Solve the problem.A deposit of $11,000 is made in an account that earns 5.6% interest compounded quarterly. The balance in the account after n quarters is given by the sequence an = 11,000(1 + )n, n = 1, 2, 3, ...Find the balance in the account after four years by computing a16

A. $11,629.06
B. $13,740.42
C. $4996.52
D. $3762.52


Answer: B

Mathematics

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