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HELP! Anything could, I'm just stuck on this problem.

Felicia invested $25000 into an account earning 3% annual interest compounded quarterly. She makes not other deposits into the account and does not withdraw any money.
What is the balance of Felicia's account in 9 years.

○$25,759.92
○$26,148.50
○$31,752.78
○$32,716.13

Respuesta :

[tex]\bf ~~~~~~ \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+\frac{r}{n}\right)^{nt} \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill &\$25000\\ r=rate\to 3\%\to \frac{3}{100}\dotfill &0.03\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{quarterly, thus four} \end{array}\dotfill &4\\ t=years\dotfill &9 \end{cases} \\\\\\ A=25000\left(1+\frac{0.03}{4}\right)^{4\cdot 9}\implies A=25000(1.0075)^{36}\implies A\approx 32716.13[/tex]

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