If you invest $7,000 into a savings account that earns 4% an…
If you invest $7,000 into a savings account that earns 4% annual interest compounded quarterly, how much would you have in the account after 6 years? Assume that money is never taken out of the account.Some formulas that may be useful here: A=P(1+rn)(nt)A=P(1+\frac{r}{n})^{(nt)} and A=Pe(rt)A=Pe^{(rt)}