math
posted by Meg .
Find the amount of money in an account after 12 years if $1000 is deposited at 5% annual interest compounded quarterly.

You should have a formula for that
amount = 1000( 1 + .05/4)^48
= .....
Respond to this Question
Similar Questions

Calc
A person deposits money into a retirement account, which pays 7% interest compounded continuously, at a rate of $1000 per year for 20 years. Calculate: a. The balance of the account at the end of 20 years b. the amount of money actually … 
math
Find the amount of money in an account after 7 years if $3900 is deposited at 7% annual interest compounded monthly. 
math
Find the amount of money in an account after 12 years if $1000 is deposited at 5 percent annual interest compounded quarterly 
Math
Find the amount of money in an account after 12 years if $1000 is deposited at 5% annual interest compounded quarterly. 
math
Choi deposited $2500 in a savings account that pays 4.75% interest compounded quarterly. What will be the total amount of money in the account 15 years from the day of deposit? 
math
An amount of $3000 was deposited in a bank at a rate of 2% annual interest compounded quarterly for 3yrs. The rate then increased to 3% annual interest and ws compounded quarterly for the next 3 yrs. If no money was withdrawn what … 
Alg2
Help....Help... Suppose you deposit a principal amount of p dollars in a bank account that pays compound interest. If the annual interest rate r (expressed as a decimal) and the bank makes interest payments n times every year, the … 
Alg 2
Suppose you deposit a principal amount of p dollars in a bank account that pays compound interest. If the annual interest rate r (expressed as a decimal) and the bank makes interest payments n times every year, the amount of money … 
Algebra
Show how you substitute the values into the formula, then use your calculator. *Use A = P(1+r/n)nt to find the amount of money in an account after t years, compounded n times per year. *Use I = Prt to find the amount of simple interest … 
algebra
Compound interest word problem. Suppose JJ has $1000 that he invests in an account that pays 3.5% interest compounded quarterly. How much money does JJ have at the end of 5 years?