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Elodia [21]
3 years ago
13

Suppose that you deposited $550 into a savings account on January 1, 1999, and deposited an additional $50 into the account at t

he 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?
Mathematics
1 answer:
lesya692 [45]3 years ago
8 0
Use this formula: A= 550(1.048)^9*4 adn then add 9*4*50=1800 which will equal:
4774.191066
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