4. an investment account pays 4.6%
annual interest compounded quarterly.
if $6050 is placed in this account, find
the balance after 6 years.
a. $6810.53
b. $7420.65
c. $7960.43
d. $8134.22

Step-by-step explanation:

Use the formula

where A(t) is the amount after all the compounding is done, P is the initial investment, r is the interest rate as a decimal, n is the number of times the investment is compounded each year, and t is time in years.  For us,

P = 6050

r = .046

n = 4

t = 6

A(t) = ?

Filling in our given info:

which simplifies to

which simplifies a bit more to

and

A(t) = 6050(1.31577397) so

A(t) = $7960.43

which is choice C

a

step-by-step explanation:

4+4+2x

or

2x+8

step-by-step explanation: