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wel
3 years ago
9

Hilda has deposited $874 in a savings account that earns interest at a rate of 3.2% compounded quarterly. What will the account

balance be in seven years?
Mathematics
1 answer:
Fantom [35]3 years ago
7 0
The formula is
A=p (1+r/k)^kt
A future value?
P present value 874
R interest rate 0.032
K compounded quarterly 4
T time 7 years
A=874×(1+0.032÷4)^(4×7)=1,092.46
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