Solve the Problem $$\mathrm { a } _ { \mathrm { n } } = 11,000 \left( 1 + \frac { 0.08 } { 4 } \right) ^ { \mathrm { n } } , \mathrm { n } = 1,2,3 , \ldots$$

question 14

Multiple Choice

Solve the problem.
-A deposit of $11,000 is made in an account that earns 8% interest compounded quarterly. The balance in the account after n quarters is given by the sequence $$\mathrm { a } _ { \mathrm { n } } = 11,000 \left( 1 + \frac { 0.08 } { 4 } \right) ^ { \mathrm { n } } , \mathrm { n } = 1,2,3 , \ldots$$
Find the balance in the account after 4 years.

• A) \(\$ 15,100.64\)
• B) \(\$ 5491.14\)
• C) \(\$ 11,906.75\)
• D) \(\$ 4257.14\)

---

Definitions:

Experimental Design

A research design used to test hypotheses and establish cause-effect relationships by manipulating one or more independent variables and observing the effect on dependent variables.

Mortality

The incidence of death within a population; in research, it can also refer to the dropout rate of participants from a study.

Final Survey

The last questionnaire or series of questions administered to participants in a study to gather final data or feedback.

Independent Groups Design

An experiment in which different subjects are assigned to each group. Also called between-subjects design.