Answer:
Step-by-step explanation:
Compound Interest Formula
The Amount A after t years due to a principle P invested at an annual interest rate r compounded n times per year
Compounded Quartely means 4 times per year
A = P(1 + r/n)^nt
A= 13000(1 + 0.04/4)^4(7)
A = 13000(1 + 0.01)^28
A = 13000(1.01)^28
A = 13000(1.321290967)
A = 17176.78|257
A ≈ 17,176.78
