Answer: $134.49
Step-by-step explanation:
The formula to calculate the accumulate amount in t years compounded quarterly :-
[tex]A=P(1+\dfrac{r}{4})^{4t}[/tex]
, where P= initial deposit
r= rate of interest
t=time
As per given , we have
P= $100
r= 10%=0.10
t=3
Accumulate Amount = [tex]A=100(1+\dfrac{0.10}{4})^{4(3)}[/tex]
[tex]A=100(1+0.025)^{12}[/tex]
[tex]A=100(1.025)^{12}[/tex]
[tex]A=100(1.3448888)=134.48888\approx134.49[/tex]
Hence, the accumulate in an account after three years will be $134.49 .
