Ask Question
5 October, 18:56

Suppose that you deposited $550 into a savings account on January 1, 1999, and deposited an additional $50 into the account at the end of each quarter-year. If the bank pays 4.8% interest compounded quarterly, how much will be in the account on January 1, 2008?

+3
Answers (1)
  1. 5 October, 21:36
    0
    Use this formula: A = 550 (1.048) ^9*4 adn then add 9*4*50=1800 which will equal:

    4774.191066
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Suppose that you deposited $550 into a savings account on January 1, 1999, and deposited an additional $50 into the account at the end of ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers