Ask Question
14 August, 06:24

Jocelyn invested $8,600 in an account paying an interest rate of 3.1% compounded quarterly. Assuming no deposits or withdrawals are made, how much money, to the nearest hundred dollars, would be in the account after 15 years?

+3
Answers (1)
  1. 14 August, 08:55
    0
    A = P * (1 + r/n) ^ (n*t)

    A = $8,600 * (1 +.031/4) ^ (4*15)

    A ≈ $13,700

    About $13,700 will be in Jocelyn's account after 15 years.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Jocelyn invested $8,600 in an account paying an interest rate of 3.1% compounded quarterly. Assuming no deposits or withdrawals are made, ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers