Intermediate Algebra for College Students (7th Edition)

Published by Pearson
ISBN 10: 0-13417-894-7
ISBN 13: 978-0-13417-894-3

Chapter 11 - Section 11.1 - Sequences and Summation Notation - Exercise Set - Page 830: 60

Answer

$16084.37$

Work Step by Step

If in a one year we have $4$ quarters then in a $6$ years there will be $6 \times 4 =24$ quarters Need to find the balance after $24$ quarters which can be found as: $a_{24}=10000(1+\dfrac{0.08}{4})^{24}$ or, $=16084.37$
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