# SOLUTION: A savings account earns interest at an annual rate of 4%, compounded quarterly. If the account begins with a principal amount of \$4000, what will its value be after 3 years? A=P(

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 Question 182043This question is from textbook saxon algebra 2 : A savings account earns interest at an annual rate of 4%, compounded quarterly. If the account begins with a principal amount of \$4000, what will its value be after 3 years? A=P(1+ 0.04/4)^4(3) A=\$4502.32 Am I Correct?This question is from textbook saxon algebra 2 Answer by user_dude2008(1861)   (Show Source): You can put this solution on YOUR website!"A savings account earns interest at an annual rate of 4%, compounded quarterly. If the account begins with a principal amount of \$4000, what will its value be after 3 years?" -----------> P=4000, r=0.04, n=4, t=3 A=P(1+ r/n)^(n*t) A=4000(1+ 0.04/4)^(4*3) A=4000(1.01)^(12) A=4,507.30 you will have \$4,507.30 in the account