Answer:
The balance after the 6 years of investment will be $ 15,442.08.
Step-by-step explanation:
Given that $ 13,700 was invested at a rate of 2% compounded quarterly during 6 years, to determine the final result of the investment, the following calculation must be performed:
13,700 x (1 + 0.02 / 4) ^ 4x6 = X
13,700 x (1 + 0.005) ^ 24 = X
13,700 x 1,005 ^ 24 = X
13,700 x 1.1271 = X
15,442.08 = X
Therefore, the balance after the 6 years of investment will be $ 15,442.08.
