Solve the Problem. -A Deposit of $8000 Is Made in an Account That

question 35

Multiple Choice

Solve the problem.
-A deposit of $8000 is made in an account that earns 5.2% interest compounded quarterly. The balance in the account after n quarters is given by the sequence an = 8000(1 + 0.0524 ) n, n = 1, 2, 3, ... Find the balance in the account after six years by computing a24

• A) $8180.46
• B) $10,907.29
• C) $6946.46
• D) $8644.63

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