i If $2700 is invested at 4.1% interest, compounded quarterly, the amount in the

Question

i

If $2700 is invested at 4.1% interest, compounded quarterly, the amount in the account after 6 years is 2700(1+0.041/4)^24. Calculate this amount(the 1 is exact).

The amount in the account after 6 years is $____
(Round to the nearest cent as needed)

Homework: H.W#1 Score: 0 of 1 pt 4l of 98 (41 complete) 1.4.67 k the smount in tho acount aher years is 27001+00414 Calculale this amount he 1 s exact) The anount in he account afer 6 years is s Erier yout arawer in the ansmer box and then ckck Check Ansu

Explanation / Answer

A = P*(1 + r/n)^(n*t)

P = $2700

A = ?

r = 4.1%

n = 4

t = 6

A = 2700*(1 + 0.041/4)^(4*6)

A = 2700*(1 + 41/4000)^24

A = 2700*(4041/4000)^24

A = $3448.71

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