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algol13
3 years ago
10

Yvette invests $300 each quarter in a fixed-interest mutual fund paying annual

Mathematics
1 answer:
liraira [26]3 years ago
4 0

Answer:

Step-by-step explanation:

The formula for  calculating the amount after t years is expressed as;

A = P(1+r/n)*nt

P is the Principal (amount invested) = $300

r is the rate = 7% = 0.07

t is the time used to save = 11 years

n is time of compounding = 1/4 (quarterly)

Substitute;

A = 300 (1+0.07/(1/4))^(1/4)(11)

A = 300(1+4(0.07))^2.75

A = 300(1+0.28)^2.75

A = 300(1.28)^2.75

A = 300(1.9716)

A = 591.49

Hence the amount that will be in her account after 11 years is $591.49

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x   -2   -1   0   1   2

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brainly.com/question/11719274

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