Respuesta :
The money that should be invested to the nearest ten dollars, would be in the account after 13 years is $16,870.
Calculation of the amount:
Since the invested amount is $8,400
The rate of interest is 5.4%
In quartely it should be [tex]= 5.4\% \div 4[/tex] = 1.35%
The time period is [tex]= 13 \times 4[/tex] = 52
So, here the future value be like
[tex]= \$8,400 \times (1 + 1.35\%)^{52}[/tex]
= $16,870
Hence, The money that should be invested to the nearest ten dollars, would be in the account after 13 years is $16,870.
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