Use the Formula A $$A = P \left( 1 + \frac { r } { n } \right) ^ { n }$$

question 53

Multiple Choice

Use the formula A $$A = P \left( 1 + \frac { r } { n } \right) ^ { n }$$ to find the amount requested.
-A principal of $12,000 is invisted in an account paying on annual interest rate of 5%. Find the amount in the account after 4 years if hte account is compounded quarterly.

• A) $14,638.67
• B) $2638.67
• C) $14,457.95
• D) $14,586.08

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