Mathematics: What would the total account value be if i deposited 14,000 into a bank account earning 3.25% compounded quarterly for 4 years?

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What would the total account value be if i deposited

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jaxondbagley

14.03.2022

$\bf \qquad \textit{Compound Interest Earned Amount}
\\\\
A=P\left(1+\frac{r}{n}\right)^{nt}
\quad 
\begin{cases}
A=\textit{accumulated amount}\\
P=\textit{original amount deposited}\to &\$14000\\
r=rate\to 3.25\%\to \frac{3.25}{100}\to &0.0325\\
n=
\begin{array}{llll}
\textit{times it compounds per year}\\
\textit{quarterly, thus four}
\end{array}\to &4\\
t=years\to &4
\end{cases}
\\\\\\
A=14000\left(1+\frac{0.0325}{4}\right)^{4\cdot 4}\implies A=14000(1.008125)^{16}$

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What would the total account value be if i deposited 14,000 into a bank account earning 3.25% compounded quarterly for 4 years?

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