4. [-/5.88 Points) DETAILS
BRECMBC9 12.1.022. 0/3 Submissions Used
MY NOTES
To establish a "rainy day" cash reserve account, a certain company deposits $14,000 of its profit at the end of each quarter into a money market account that pays 1.85% Interest
compounded quarterly. (Round your answers to the nearest cent.)
(a) How much (in s) will the account be worth in 4 years?
$
(b) How much (in s) will the account be worth in
5 1/2
years?

Question

05-11-2022
Business

Answered

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4. [-/5.88 Points) DETAILS
BRECMBC9 12.1.022. 0/3 Submissions Used
MY NOTES
To establish a "rainy day" cash reserve account, a certain company deposits $14,000 of its profit at the end of each quarter into a money market account that pays 1.85% Interest
compounded quarterly. (Round your answers to the nearest cent.)
(a) How much (in s) will the account be worth in 4 years?
$
(b) How much (in s) will the account be worth in
5 1/2
years?

Sagot :

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