SOLUTION: find the amount of money in an account after 7 years if $4100 is deposited at 6% annual interest compounded quarterly. ASSUME NO MONEY is withdrawn A) $6164.88 B) $6201

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Question 860420: find the amount of money in an account after 7 years if $4100 is deposited at 6% annual interest compounded quarterly. ASSUME NO MONEY is withdrawn
A) $6164.88 B) $6201.62
C) $6220.61 D) $6233.52

Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!
 
Hi,
In General In General
A = Accumulated Amount
P= principal =
r= annual rate = .
n= periods per year =
t= years =
= $6220.61 (rounded to nearest penny)

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