Find the final amount of money in an account if $7,400 is deposited at 7% interest compounded quarterly (every 3 months) and the money is left for 7 years. The final amount is $_______________ Round answer to 2 decimal places

Find the final amount of money in an account if $7,400 is deposited at 7% interest compounded quarterly (every 3 months) and the money is left for 7 years. The final amount is $_______________ Round answer to 2 decimal places

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter4: Exponential And Logarithmic Functions

Section4.2: The Natural Exponential Function

Problem 36E

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Find the final amount of money in an account if $7,400 is deposited at 7% interest compounded quarterly (every 3 months) and the money is left for 7 years.

The final amount is $_______________

Round answer to 2 decimal places

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