You deposit $400 into an account that pays 2% annual interest compounded quarterly.
Part a: Write an exponential model that describes the situation.
Part b: Determine the value of the account after 5 years. Round to two decimal places.
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Home » Mathematics » You deposit $400 into an account that pays 2% annual interest compounded quarterly. Part a: Write an exponential model that describes the situation. Part b: Determine the value of the account after 5 years. Round to two decimal places.