Solve the problem.
-A deposit of $9000 is made in an account that earns 8% interest compounded quarterly. The balance in the account after n quarters is given by the sequence $a _ { n } = 9000 \left( 1 + \frac { 0.08 } { 4 } \right) ^ { n } \quad n = 1,2,3 , \ldots$
Find the balance in the account after 28 quarters.
A) $\$ 15,669.22$
B) $\$ 15,762.22$
C) $\$ 15,721.22$
D) $\$ 15,524.22$

Question

Quizplus · Accepted Answer

The balance in the account after 28 quarters is given by the sequence $a _ { n } = 9000 \left( 1 + \frac { 0.08 } { 4 } \right) ^ { n } \quad n = 1,2,3 , \ldots$Substituting n = 28, we get$a _ { 28 } = 9000 \left( 1 + \frac { 0.08 } { 4 } \right) ^ { 28 } = 9000 \left( 1.02 \right) ^ { 28 } = 9000 \left( 1.566922 \right) = 15669.22$Therefore, the balance in the account after 28 quarters is $15,669.22.

Solve the Problem an=9000(1+0.084)nn=1,2,3,…a _ { n } = 9000 \left( 1 + \frac { 0.08 } { 4 } \right) ^ { n } \quad n = 1,2,3 , \ldotsan​=9000(1+40.08​)nn=1,2,3,…

Solve the Problem $a _ { n } = 9000 \left( 1 + \frac { 0.08 } { 4 } \right) ^ { n } \quad n = 1,2,3 , \ldots$