A person opens up a savings account that pays 4% interest compounded quarterly. The person makes deposits every three months, including the initial deposit, of $200 each. Find the amount in the account at the end of 10 years? (Round your answer to the nearest cent.) $8,000.00 $11,987.72 $9,777.27 $12,209.76
A person opens up a savings account that pays 4% interest compounded quarterly. The person makes deposits every three months, including the initial deposit, of $200 each. Find the amount in the account at the end of 10 years? (Round your answer to the nearest cent.) $8,000.00 $11,987.72 $9,777.27 $12,209.76
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
![89°F
Partly sunny
A
A person opens up a savings account that pays 4% interest compounded quarterly. The person makes deposits every three
months, including the initial deposit, of $200 each. Find the amount in the account at the end of 10 years? (Round your answer to
the nearest cent.)
Z
O $8,000.00
O $11,987.72
O $9,777.27
O
2
$12,209.76
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1:32 PM
7/1/2023
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Transcribed Image Text:89°F
Partly sunny
A
A person opens up a savings account that pays 4% interest compounded quarterly. The person makes deposits every three
months, including the initial deposit, of $200 each. Find the amount in the account at the end of 10 years? (Round your answer to
the nearest cent.)
Z
O $8,000.00
O $11,987.72
O $9,777.27
O
2
$12,209.76
W
S
x
3
Q+
E
D
54
4
R
F
CV
Q Search
JL
%
5
T
G
B
Y
H
F8
V00
7
N
F9
00*
8
M
F10
K
F11
F12
o
P
Prt Sc
[
~.
Del
Backspace
Enter
►
*
1:32 PM
7/1/2023
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