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Romashka [77]
3 years ago
9

A thousand dollars is left in bank savings account drawing 7% interest, compounded quarterly for 10 years. What is the balance a

t the end of that time? show work
Mathematics
2 answers:
STALIN [3.7K]3 years ago
5 0

Answer:

Step-by-step explanation:

p(1+r/n)nt

= 1000 (1 + 0.07/4) 4 x 10

1000 (1 + 0.0175) 40

1000(1.0175) 40

1000x 2.0015

= 2001.59

therefore the answer is 2001.59

Feliz [49]3 years ago
4 0

Answer:

Step-by-step explanation:

ms trybuski

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