Can somebody answer this question?
1 answer:
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Answer:
Final amount after 4 years will be $5518.
Step-by-step explanation:
From the given question Principal amount in the account of Stan = $4706
and we have to calculate amount after 4 years with 4% interest compounded quarterly.
Formula will be final amount
Here A' = $4706
t = 4 years
n = number of times compounded = quarterly that will be 4
r = .04
So the final amount after four years will be $5518.