june made a initial deposit of 4700 in an account assuming an interest rate of 12% compounded quarterly how much will the account be worth in 10 years
40 periods at 12/4 = 3% each
1.03^40 = 3.262
4,700 * 3.262 = $ 15,331.58
1.03^40 = 3.262
4,700 * 3.262 = $ 15,331.58