kinseydaviscorr kinseydaviscorr

04-12-2016
Mathematics

contestada

Suppose that you deposited $550 into a savings account on January 1, 1999, and deposited an additional $50 into the account at the end of each quarter-year. If the bank pays 4.8% interest compounded quarterly, how much will be in the account on January 1, 2008?

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shriyanagulavan shriyanagulavan

04-12-2016

use this formula: A= 550(1.048)^9*4 adn then add 9*4*50=1800 which will equal:
4774.191066

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