What amount, $A$ , will our account have after 3 years if it earns an annual rate of $6 %$ compounded quarterly if we started with $$ 950$ . Round to the nearest cent.
$A = $$
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$A = $ 1135.84$

Steps

Step 1 ：Define the variables where $P = 950$ , $r = 0.06$ , $n = 4$ , and $t = 3$ .

Step 2 ：Calculate the future value using the compound interest formula: $A = P \times (1 + \frac{r}{n})^{n \times t}$ .

Step 3 ：Round the result to the nearest cent to get the final amount $A$ .

Step 4 ：The final amount in the account after 3 years will be $1135.84. So, $A = $ 1135.84$ .

Step 5 ： $A = $ 1135.84$