SOLUTION: Find the balance in the account.
$2,400 principal earning 2%, compounded quarterly, after 7 years
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Question 724263: Find the balance in the account.
$2,400 principal earning 2%, compounded quarterly, after 7 years
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
Find the balance in the account.
$2,400 principal earning 2%, compounded quarterly, after 7 years
--------------
Interest per quarter = 0.5%
# of quarters = 28
Balance = 2400*(1 + 0.005)^28
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