Ryan deposits $12,000 into a fixed asset account that earns 6% compounded quarterly. What is Ryan's balance at the end of five years? (Round your answer to the nearest cent.)
Fill in the blank(s) with the appropriate word(s).
$16,162.26
$16162.26
FV = PV(1 + i)n 12,000(1.015)20 = 16,162.26
| N | I/Y | PV | PMT | CPT FV | ||||||
| 20 | 1.5 | ?12,000 | 0 | 16,162.26 |
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