<PRE><B>Question 1180512</B>
You deposit $6000 in an account earning 4% interest compounded quarterly. How much will you have in the account in 5 years?


Principal P =	6000											
Amount=	A											
years=t	5.00											
compounded	4	times a year		n								
Rate =	4.00	0.04		0.01								
Amount =	P*((n+r)/n)^n*t											
												
Amount =	=	6000	*(	1	+	0.01	)^	4	*	5.00		
Amount =	6000	*(	1	+	0.01	)^	20					
	6000	*(	1.01	)^	20.00							
Amount =	7321.14											

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