Answer: 10,000(1.03)⁴ˣ
<u>Step-by-step explanation:</u>
A = P(1 + )ⁿˣ
A is the amount (new balance): <u> unknown </u>
P is the principal (amount you started with): <u> 10,000 </u>
r is the interest rate: 12% = <u> .12 </u>
n is the number of times per year it is compounded: quarterly = <u> 4 </u>
x is the number of years: <u> x </u>
A = 10,000(1 + )⁴ˣ
= 10,000(1 + .03)⁴ˣ
= 10,000(1.03)⁴ˣ
