Felicia invested $25,000 into an account earning 3% annual interest compounded quarterly. she makes no other deposits into the account and does not withdraw any money. what is the balance of felicia's account in 9 years?

Answer

Balance of Felicia's account in 9 years be $32717.5 .

Explanation :

Formula

Where P is the principle , r is the rate of interest in the decimal form and t in the time in the years .

As given

Felicia invested $25,000 into an account earning 3% annual interest compounded quarterly for 9 years .

As

P = $25000

3% is written in the decimal form.

= 0.03

t = 3 years

Putting all the values in the formula

Therefore the balance of Felicia's account in 9 years be $ 32717.5 .

Business fixed investment

Explanation:

The purchase by firms of new capital goods such as machinery, factories, and office buildings. (Remember that for the purposes of calculating GDP, long-lived capital goods are treated as final goods rather than as intermediate goods.) Firms buy capital goods to increase their capacity to produce.