2) Find the compound amount on an investment of $7,000 at 8% compounded quarterly for 9 years. a)O $ 12,665.23 b)O $14,279.21 c) O $10,385.58 d) O $16,989.00 e) O None of these

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
icon
Related questions
icon
Concept explainers
Topic Video
Question
Page 2 of 6
Previous
Next
FM023105
2) Find the compound amount on an investment of $7,000 at 8% compounded quarterly for 9 years.
a)O $ 12,665.23
b)O $14,279.21
c)O $10,385.58
d) O $16,989.00
e) O None of these
empted
oted
Transcribed Image Text:Page 2 of 6 Previous Next FM023105 2) Find the compound amount on an investment of $7,000 at 8% compounded quarterly for 9 years. a)O $ 12,665.23 b)O $14,279.21 c)O $10,385.58 d) O $16,989.00 e) O None of these empted oted
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Knowledge Booster
Application of Algebra
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, algebra and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
College Algebra
College Algebra
Algebra
ISBN:
9781337282291
Author:
Ron Larson
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage