At the end of each quarter, patti deposits $500 into an account that pays 12% interest compounded quarterly. how much will patti have in the account in three years? a.$7,096.b.$7,129.c.$7,213.d.$8,880 .

a.$7,096

Step-by-step explanation:

[this is the formula used when certain amount is added at regular intervals and if the interest is COMPOUNDED]

(here,

s=deposit added at the end of each quarter=  $500

n= number of times interest is compounded per unit 't'=4

t=total time = 3 years

r=interest rate ( expressed in decimal or fraction not in %) = 12/100 = 0.12 )

A  

( [1.03]^12= 1.42576 ( approximately) { use calculator for exact values})

1/3 + 1/3 ≠ 2/6 because 1/3 alone = 2/6  

step by step explanation:

1/3 + 1/3 = 2/3       2/3=4/6