When she got married, Lannie Ferguson left all of her personal savings in her own credit union account, which was paying 6% compounded quarterly. Six years later, the same account had increased to $26,871.62 . Compute the amount that was in the account when Lannie got married. She made no additional deposits into the account. (Use Tables 16-1A&B or 16-2A&B or a calculator.)


0.06 ÷ 4 = 0.015; 4 × 6 = 24;

$26,871.62 × 0.69954 = $18,797.77 in account

Business

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