About 12 quarters there will be $12600 in the account.
How to find the compound interest?
If n is the number of times the interested is compounded each year, and 'r' is the rate of compound interest annually, then the final amount after 't' years would be:
[tex]a = p(1 + \dfrac{r}{n})^{nt}[/tex]
It is given that if we deposit $6000 into an account paying 6.5% annual interest compounded quarterly.
Insert and solve for n:
12600 = 6000 x (1+0.065)^n
n = 11.78
Thus, about 12 quarters there is $12600 in the account.
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