SOLUTION: How much money will there be in an account at the end of 4 years if $6000 is deposited at 3% interest compounded quarterly? (Assume no withdrawals are made.) Can someone please

Algebra ->  Finance -> SOLUTION: How much money will there be in an account at the end of 4 years if $6000 is deposited at 3% interest compounded quarterly? (Assume no withdrawals are made.) Can someone please       Log On


   

Question 694394: How much money will there be in an account at the end of 4 years if $6000 is deposited at 3% interest compounded quarterly? (Assume no withdrawals are made.)
Can someone please help me with this question? Thank you!
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
FV=6000(1+0.03/4)^4*4
FV=6000(1.0075)^16
FV=6000*1.126992
FV=$7019.50