SOLUTION: . Suppose you deposit $1,000 in an account that pays 12% interest, compounded quarterly. How much will be in the account after eight years?

SOLUTION: . Suppose you deposit $1,000 in an account that pays 12% interest, compounded quarterly. How much will be in the account after eight years?

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Question 662469: . Suppose you deposit $1,000 in an account that pays 12% interest, compounded quarterly. How much will be in the account after eight years?

Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=1000(1+0.12/4)^4*8
A=1000(1.03)^32
A=1000(2.575)
A=$2575
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