math 142

1,000 are deposited into an account quarterly  for eight years at an interest rate of 7.87.8​% compounded quarterly. How much is in the account at the end of the 88 ​years? 

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asked by rudy
  1. reading past the strange symbols:

    1,000 are deposited into an account quarterly for eight years at an interest rate of 7.878 % compounded quarterly. How much is in the account at the end of the 8 years?

    i = .07878/4 = .019695
    n = 32

    amount = 1000(1.019695^32 - 1)/.019695

    I got $44,000.58

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    posted by Reiny

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