Question

Ignacio invested $2,748 in a savings account which earns 4.92% interest compounded quarterly. What will the account be worth in six years?

Answer 1

\[P= P_0\left(1+ \frac r t\right)^{n t}
\]

Answer 2

\[
P=2748\left(1+ \frac {.0492}{4}\right)^{6 (4)}
\]

Answer 3

\[
P=2748\left(1+ \frac {.0492}{4}\right)^{6 (4)}=3685.01
\]

Answer 4

A=P(1+I)N
A=2748(1+4.92 DIVIDE BY 400)POWER OF 24
3685.01