You just deposited $2,000 in a bank account that pays a 4.0% nominal interest rate,...
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Calculus
You just deposited $2,000 in a bank account that pays a 4.0% nominal interest rate, compounded quarterly. If you also add another $5,000 to the account oneyear (4 quarters) from now and another $7,500 to the account two years (8 quarters) from now, how much will be in the account three years (12 quarters) fromnow?Oa. $14,234.67Ob. $11,604.35O c. $19,340.58d. $15,472.46e. $18,566.96
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