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Use the compound interest formula:
[tex]A=P(1+\frac{r}{n})^{nt}[/tex]Cyrus is starting with $70,000, so P = 70000.
The interest rate is 3.3%, so r = 0.033.
Cyrus is compounded quarterly, this is compounding 4 times per year, so n = 4.
Cyrus wants to know the value of the account in 12 years, this is t = 12.
Then, Substitute using given values in the formula:
[tex]\begin{gathered} A=70000(1+\frac{0.033}{4})^{4\cdot10} \\ A=70000(1+\frac{0.033}{4})^{40} \\ A=97236.04 \end{gathered}[/tex]This is ultimately deposited in the account.
For the interest, we have:
[tex]97236.04-70000=27236.04[/tex]Answer:
amount cyrus will deposit: $ 97236.04
interest earned: $ 27236.04