Solved: A deposit of $10,000 is made in an account that earns 8% interest compounded
Chapter 11, Problem 60(choose chapter or problem)
A deposit of $10,000 is made in an account that earns 8% interest compounded quarterly. The balance in the account after n quarters is given by the sequence an = 10,000a1 + 0.08 4 b n , n = 1, 2, 3,c. Find the balance in the account after six years. Round to the nearest cent.
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