If $11,000 is invested at 6% compounded quarterly, what is the amount after 4 years?
If $11,000 is invested at 6% compounded quarterly, what is the amount after 4 years?
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 27PS
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If $11,000 is invested at 6% compounded quarterly, what is the amount after 4 years?
The amount after 4 years will be $________
(round to the nearest cent)
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