a savings account earns 8% interest each year, compounded quarterly (4 times a year). If a person invests $100 and makes no further deposits or withdrawals, what is the balance in the account after 3 years?

Work Shown:

The given values are

Which means,

A = P*(1+r/n)^(n*t) compound interest formula

A = 100*(1+0.08/4)^(4*3) plug in given values

A = 126.824179456254 value is approximate

A = 126.82 round to the nearest cent

The balance of the account after three years is $126.82

answer: b

step-by-step explanation: