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You just deposited $2,000 in a bank account that pays a 4.0% nominal interest rate, compounded quarterly. If you also add another $5,000 to the
You just deposited $2,000 in a bank account that pays a 4.0% 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?
$15,472.46 | ||
$18,102.78 | ||
$13,461.04 | ||
$12,687.42 | ||
$15,008.29 |
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