SOLUTION: $15,000 is invested in a savings account paying 7% intereset per year. Write the formula for the amount in the account after t years if the interest is compounded quarterly.

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Question 537715: $15,000 is invested in a savings account paying 7% intereset per year. Write the formula for the amount in the account after t years if the interest is compounded quarterly.
Answer by TMils(8) About Me  (Show Source):
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$15,000 is invested in a savings account paying 7% intereset per year. Write the formula for the amount in the account after t years if the interest is compounded quarterly.
A=P(1+r/n)^nt
A= 15000(1+(.07/4))^4(t)