what is the value of a saving account after 12years when $12,000.00 is initially deposited and interest is earned at the rate of 4.5% compounded quarterly

  1. 👍 0
  2. 👎 0
  3. 👁 85
asked by Austin
  1. i = .045/12 = .00375

    what is 12000(1.00375)^48 ?

    1. 👍 0
    2. 👎 0
    posted by Reiny

Respond to this Question

First Name

Your Response

Similar Questions

  1. math

    How much must be deposited today into the following account in order to have $ 25,000 in 8 years for a down payment on a​ house? Assume no additional deposits are made. An account with annual compounding and an APR of 5​%

    asked by Boop on April 18, 2019
  2. Math

    Compound interest is a type of exponential growth. Now imagine that Lisa and Elicia each opened a new compound interest account. Lisa deposited $20,000 into her compound interest account. Elicia deposited $15,000 into her compound

    asked by Jakis on March 8, 2017
  3. math

    Phil deposited $1,000 in a savings account. How much will he have in his account in two years if his account is compounded annually at a 2% interest rate?

    asked by Anonymous on October 19, 2016
  4. 6th Grade Math

    Can someone please show me how to work this problem below? Jacob earned $80 babysitting and deposited the money into his savings account. The next week he sepnt $85 on video games. Use the integers to describe the weekly changes

    asked by Tim on September 2, 2014
  5. Math

    Please help me and show an understanding please, so I see how to figure them out. Lee deposited $28,000 in an interest-bearing checking account that earns 3.5% interest compounded daily. Find the amount after 68 days. a.$183.16

    asked by Marc on February 20, 2015
  6. Finance

    Mary just deposited $33,000 in an account paying 7% interest. She plans to leave the money in this account for eight years. How much will she have in the account at the ned of the seventh year?

    asked by Unknown on April 27, 2010
  7. Math/Algebra

    Jeremy opened two saving accounts at the beginning of 2010, each with an initial deposit of $4,000. Account A earned simple interest, and account B earned interest that was compounded annually. By the end of 2012, which account

    asked by Tris on April 19, 2015
  8. finance

    Assume you just deposited ksh 100,000 into a bank account. The current real interest rate is 2%, and inflation is expected to be 6% over the next year. What nominal rate would you require from the bank over the next year? How much

    asked by gho on April 15, 2015
  9. Finance

    Dominique has just turned 65 and she has deposited her annual payment of $20,000 into her retirement account. She made her first such saving deposit into this fund on her 35th birthday. Dominique has also retired and wants to

    asked by Vidal on November 19, 2014
  10. accounting

    using the equation A=L+OE how would you balance this problem: You buy acompany for $200,000 - Assets are land $50,000, building $130,000, equip $20,000. Took 70,000 from personal bank account to invest in business. Made a down

    asked by sue on November 30, 2009

More Similar Questions