Answer
$\$8081.13$
Work Step by Step
Here, we have $6000(1+\dfrac{0.06}{4})^n=8081.13$
Plug $n=20$
Now $6000(1+\dfrac{0.06}{4})^{20}=8081.13$
Hence, the balance is $\$ 8081.13$ after $5$ years.
Precalculus (6th Edition) Blitzer
by Blitzer, Robert F.
Published by
Pearson
ISBN 10:
0-13446-914-3
ISBN 13:
978-0-13446-914-0
Chapter 10 - Section 10.1 - Sequences and Summation Notation - Exercise Set - Page 1050: 71
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