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13-04-2021
Mathematics

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If $5400 is invested in an account paying 3.6% compounded quarterly, how much will you have in the account after nine years?

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13-04-2021

Answer:

$12398.4

Step-by-step explanation:

the interest of one year

=($5400×3.6%)×4

=($5400×3.6/100)×4

=$194.4×4

=$777.6

the balance after nine years

=$5400+9($777.6)

=$5400+$6998.4

=$12398.4

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