Asked by Aleah

June made an initial deposit of $5000 in an account for her son. Assuming an interest rate of 7% compounded quarterly, how much will the account be worth in 11 years? Round to the nearest cent. Can someone help me with this problem?
Answered by Reiny
Use the compound interest formula ...

amount
= 5000(1 + .07/4)^44
= 5000(1.0175)^44
= 10727.15
Answered by me
how much will i get
There are no AI answers yet. The ability to request AI answers is coming soon!