How much money will there be in an account at the end of

4

years if ​$11000

is deposited at

3​% interest compounded quarterly question markquarterly? ​(Assume no withdrawals are​ made.) Question content area right Part 1 The amount after 4 years will be

​$enter your response here.

​(Round to the nearest cent as​ needed.)

To calculate the amount of money in an account after 4 years with $11,000 deposited at 3% interest compounded quarterly, we can use the compound interest formula:

\[
A = P \left( 1 + \frac{r}{n} \right)^{nt}
\]

Where:
- $A$ is the amount of money in the account after interest.
- $P$ is the principal amount (initial deposit), which is $11,000.
- $r$ is the annual interest rate (decimal form), so 3% becomes 0.03.
- $n$ is the number of times the interest is compounded per year, which is 4 (quarterly).
- $t$ is the time in years, which is 4 years.

Now let's plug the values into the formula and calculate the final amount.

\[
A = 11000 \left( 1 + \frac{0.03}{4} \right)^{4 \times 4}
\]

Let's calculate it.The amount of money in the account after 4 years will be approximately **$12,396.91**.

Would you like further details on the calculation or have any other questions?

Here are some related questions you might be interested in:
1. How does changing the interest rate affect the final amount?
2. What would the total amount be if the interest was compounded monthly instead of quarterly?
3. How much interest will be earned over the 4 years?
4. What if the principal amount was $15,000 instead of $11,000?
5. How long would it take for the money to double at 3% interest compounded quarterly?

**Tip:** The more frequently interest is compounded, the faster the money grows due to the effect of compounding.

How much money will there be in an account at the end of 4 years if $11000 is deposited at 3% interest compounded quarterly? (Assume no withdrawals are made.) The amount after 4 years will be $enter your response here. (Round to the nearest cent as needed.)

Learn how to calculate the compound interest for a $11,000 deposit at 3% interest compounded quarterly over 4 years. This guide covers key financial concepts, including the compound interest formula and the effect of quarterly compounding. Ideal for high school students in Grades 9-12.

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