Solve the Problem $a _ { n } = 9000 \left( 1 + \frac { 0.08 } { 4 } \right) ^ { n } \quad n = 1,2,3 , \ldots$

question 138

Multiple Choice

Solve the problem.
-A deposit of $9000 is made in an account that earns 8% interest compounded quarterly. The balance in the account after n quarters is given by the sequence $a _ { n } = 9000 \left( 1 + \frac { 0.08 } { 4 } \right) ^ { n } \quad n = 1,2,3 , \ldots$
Find the balance in the account after 28 quarters.

• A) \(\$ 15,669.22\)
• B) \(\$ 15,762.22\)
• C) \(\$ 15,721.22\)
• D) \(\$ 15,524.22\)