SOLUTION: Suppose $2000 is deposited in an account paying 2.5% interest compounded quarterly. What will the account balance be after 12 yr?

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Question 1190916: Suppose $2000 is deposited in an account paying 2.5% interest compounded quarterly. What will the account balance be after 12 yr?
Answer by josgarithmetic(39617) About Me  (Show Source):
You can put this solution on YOUR website!
The factor is %281%2B0.025%2F4%29 for each whole year.

For the twelve years counted in quarter of year
2000%281%2B0.025%2F4%29%5E%2812%2A4%29, the balance then.

(12*4 is an exponent but does not appear to be in the correct place.)