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Black_prince [1.1K]

1 year ago

14

Sarah invested $800 in an account paying an interest rate of 3.5% compounded quarterly. Assuming no deposits or withdrawals are

made, how much money, to the nearest cent, would be in the account after 8 years?

1 answer:

Korolek [52]1 year ago

5 0

Answer:

$ 1,057.22

Step-by-step explanation:

A = $ 1,057.22

A = P + I where

P (principal) = $ 800.00

I (interest) = $ 257.22

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