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You just deposited $1,000 in a bank account that pays a 6.0% nominal interest rate, compounded quarterly. If you also add another $5,000 to the
You just deposited $1,000 in a bank account that pays a 6.0% nominal interest rate, compounded quarterly. If you also add another $5,000 to the account one year (4 quarters) from now and another $7,500 to the account two years (8 quarters) from now, how much will be in the account three years (12 quarters) from now?
a. $14,788.31
b. $14,045.81
c. $14,759.02
d. $13,702.50
e. $16,140.85
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