Hilda has deposited $874 in a savings account that earns interest at a rate of 3.2% compounded quarterly. What will the account balance be in seven years?
The formula is A=p (1+r/k)^kt A future value? P present value 874 R interest rate 0.032 K compounded quarterly 4 T time 7 years A=874×(1+0.032÷4)^(4×7)=1,092.46
