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5. [376 Points] DETAILS PREVIOUS ANSWERS BRECMBC9 12.1.022. MY NOTES ASK YOUR TEACHER PRACT To establish a rainy day cash reserve account, a certain company
5. [376 Points] DETAILS PREVIOUS ANSWERS BRECMBC9 12.1.022. MY NOTES ASK YOUR TEACHER PRACT To establish a "rainy day" cash reserve account, a certain company deposits $12,000 of its profit at the end of each quarter into a money market account that pays 1.55% interest compounded quarterly. (Round your answers to the nearest cent.) (a) How much in s) will the account be worth in 2 years? $ 97,312.14 (b) How much (in $) will the account be worth in 3. years? $ 172,297.908 X
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