SOLUTION: Find the ending balance in an account that opens with $6,000 earns 4.5% interest compunded quartley and is held for 20 years round your answer to neaest cent.

Question 547690: Find the ending balance in an account that opens with $6,000 earns 4.5% interest compunded quartley and is held for 20 years round your answer to neaest cent.
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Principal P = 6000
Amount= A
years=n 20.00
compounded 4 times a year t
Rate = 4.50 0.01
Amount = P*((n+r)/n)^n*t

Amount =6000*(1+0.01)^20*4
Amount = 6000*(1+0.01)^ 80
6000*(1.01)^80
Amount = 14683.65

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