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Elizabeth deposits $770 into an account. For the first two years, money in the account earns 6.3% annual interest that is compounded quarterly. After that,
Elizabeth deposits $770 into an account. For the first two years, money in the account earns 6.3% annual interest that is compounded quarterly. After that, the interest rate jumps to 8.3% annual interest, but the interest is still compounded quarterly. How much would be in the account at the end of 4 years?
Round the monthly interest rate to 3 decimal places.
$770(1.063)2(1.083)2
$770(1.016)2(1.021)2
$770(1.016)8(1.021)8
$770(1.063)8(1.083)8
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