9514 1404 393
Answer:
$6068.89
Step-by-step explanation:
The compound interest formula tells you the amount will be ...
FV = P(1 +r/n)^(nt)
for principal P at annual rate r compounded n times per year for t years.
FV = $4000(1 +.06/4)^(4·7) = $4000(1.015^28) ≈ $6068.89
There will be $6068.89 in the account at the end of 7 years.
