A bank features a savings account that has an annual percentage rate of r = 3.2% with interest compounded quarterly. Latasha deposits $12,000 into the account.
(A) What values should be used for P, r, and n?
P =
, r =
, n =
(B) How much money will Latasha have in the account in 7 years?
Answer = $
Round answer to the nearest penny.