Solve the problem.A deposit of $7000 is made in an account that earns 8% interest compounded quarterly. The balance in the account after n quarters is given by the sequencean  = 7000 n  n = 1, 2, 3, ... Find the balance in the account after 5 years.

A. $10,401.63
B. $10,492.63
C. $10,233.63
D. $10,478.63


Answer: A

Mathematics

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