Question

PLEASE HELP WILL MEDAL BRAINLIEST ANSWER!

Jeffrey opened a savings account with $15,000. His annual interest rate is 4.8%, and his interest is compounded quarterly. How much is in Jeffrey’s account after 7 years? interest compounded quarterly: A = P (1 + )4t

Answer 1

The amount after 7 years is given by:
$A=15000(1+\frac{0.048}{4})^{4\times7}=20,948.15$
The answer is: $20,948.15