SOLUTION: Gilda Nardi deposits $5,325 in a bank that pays 12% interest compounded quarterly. Find the amount she will have at the end of 7 years.

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Question 1023963: Gilda Nardi deposits $5,325 in a bank that pays 12% interest compounded quarterly. Find the amount she will have at the end of 7 years.
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Gilda Nardi deposits $5,325 in a bank that pays 12% interest compounded quarterly. Find the amount she will have at the end of 7 years.
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A(t) = P(1+(r/n))^(nt)
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A(7) = 5325*(1+0.12/4))^(4*7)
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A(7) = $12183.21
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Cheers,
Stan H.