Write a function that represents the situation. Find the balance A in the account after the given time period t.
$2000 deposit that earns 5% annual interest compounded quarterly; 5 years
A function is A=
The balance of the account after 5 years is $
2 answers
A = 2000(1 + 0.05/4)^(4*5) = _____
40500
1 answer