Business, 26.03.2021 02:40 Arealbot

A third option for investing money is a money-market account, which offers 8% annual interest compounded quarterly(four times per year). This means that the 8% is divided into four parts over the year, so the bank pays 2% every three months. Required:
a. Represent the value (at the end of every three months) of the $1000 investment in this money-market account with a sequence. List at least six terms.
b. Write an equation that determines the value of the investment, y, in the money-market account after xquarters.
c. What will be the value of your $1000 investment at the end of four years? How does this compare with your other investment options?

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