The amount of money, A(t), in a savings account that pays 3%

Last updated: 7/17/2022

The amount of money, A(t), in a savings account that pays 3% interest, compounded quarterly for t years, with an initial investment of P dollars, is given by At =P[1+ 0.03/4)^4t If $5000 is invested at 3%, compounded quarterly, how much will the investment be worth after 6 years? How much money will there be in the account at the end of 6 years?