Whitney deposited $2,400,000 into an account in which interest is compounded quarterly at a rate of 2.9%. She made no other depo
sits or withdrawals. What was the amount after 12 years?
A $2,470,532.59
B $7,471,532.89
C $2,617,330.43
D $3,394,692.90
2 answers:
Answer:
Step-by-step explanation:
amount = principle* (1 + (r/n) ) ^ (n*t)
amount = 2,400,000*[ 1 + (0.029 / 4 ) ] ^ (.029*12)
amount = 2,400,000* [ 1 + .00725 ] ^0.348
amount = 2,406,0400
The answer would be a I hope it helps let Me know if I’m wrong and I’ll fix it for you so you can have The right answer stay safe
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