SOLUTION: A total of 12,000 is invested in 6 year CD account at the interest rate of 5% .find the balance a the end of term if it's compounded quarterly

Question 705807:
A total of 12,000 is invested in 6 year CD account at the interest rate of 5% .find the balance a the end of term if it's compounded quarterly

Found 2 solutions by checkley79, lynnlo:
Answer by checkley79(3341) (Show Source): You can put this solution on YOUR website!
12000(1+.05/4)^4*6
12000(1+.0125)^24
12000(1.0125)^24
12000*1.347351=$16168.21 ANS.
Answer by lynnlo(4176) (Show Source): You can put this solution on YOUR website!
THE INTEREST WILL BE ==============$4,081.15
THE TOTAL BALANCE WILL BE=====$16,081.15
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