Question: Need help solving this problem A bank features a savings account that has an annual percentage rate of 'r = 5.2% with interest compounded quarterly.

Need help solving this problem

Need help solving this problem A bank features a savings account that

A bank features a savings account that has an annual percentage rate of 'r = 5.2% with interest compounded quarterly. Laura deposits $10,000 into the account. 1" In! The account balance can be modeled by the exponential formula Alt) = o(1 + E) . where A is account value after t years , a is the principal {starting amount), 1' is the annual percentage rate, I: is the number of times each year that the interest is compounded. (A) Whatvalues should he used for a. r. and k? [B] How much money:r will Laura have in the account in 9 years? Round answer to the nearest penny. '1" k (C) What is the annual percentage yield (APY) for the savings account? Use AR) = (I + E) 1 (The AP! is the actual or effective annual percentage rate which includes all compounding in the year]. APY = S95. Round answer to 3 decimal places

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