7. $6,000 is invested in an account that earns 4.5% annual interest, compounded quarterly. what is the
value of the account after 8 years?

The value of account after 8 years is $8580  

Step-by-step explanation:

Given in question as :

The principal that invested in an account = $6,000

The annual interest rate  compounded quarterly = 4.5%

Time period = 8 years

Now from compound Interest method for quarterly .

Amount = Principal

Or,Amount = $6,000

Or, Amount = $6,000 (1.430)

∴ Amount = $8580  

Hence the value of account after 8 years is $8580   Answer

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step-by-step explanation:

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