SOLUTION: Kristan deposits $345 for 5 years at 5.5% interest, compounded quarterly. What is her balance?

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Question 1053405: Kristan deposits $345 for 5 years at 5.5% interest, compounded quarterly. What is her balance?
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
In General A%28t%29+=+P%281%2Br%2Fn%29%5E%28nt%29
A = Accumulated Amount
P= principal = 345
r= annual rate = .055
n= periods per year = 4
t= years = 5
A%28t%29+=+345%281%2B.055%2F4%29%5E%2820%29