Question

1. If you deposit $9200 into an account paying 7% annual interest
compounded quarterly, how much money will be in the account after 10 years? a
A) $20,123.85
B) $ 8,549.75
C) $18,414.70
D) $10,487.20

Answer 1

Answer:

C) $18,414.70

Step-by-step explanation:

  $A = 9,200 (1 +\frac{0.07}{4}) ^{4 x 10}$

      = $18, 414.70