hohuoywih1474 hohuoywih1474

26-04-2021
Mathematics

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You deposit $7,900 in an account that pays 1.29% annual interest. Find the balance after 5 years when theinterest is compounded quarterly.

•$10,293.78

•$8,132.89

•$9,378.23

•$8,425.47

Respuesta :

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26-04-2021

Answer:

8,425.47

Step-by-step explanation:

Total Principal: $7,900.00

Total Interest: $525.47

interest rate of 1.29% compound quarterly is equivalent to annual rate of 1.296%

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