Answer
$16,084.37$
Work Step by Step
Here, we have $10,000(1+\dfrac{0.08}{4})^n$
Plug $n=24$
Now $10,000(1+\dfrac{0.08}{4})^{24}=16,084.37$
Hence, the balance is $\$ 16,084.37$ after six 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: 72
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