SOLUTION: A couple invests $3400 in an account paying 4% compounded quartely. How much is in the account after one year?

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Question 901012: A couple invests $3400 in an account paying 4% compounded quartely. How much is in the account after one year?
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 = $3400
r= annual rate = .04
n= periods per year = 4
t= years = 1
A%281%29+=+3400%281.01%29%5E%284%29