You deposit $3000 into a money-market savings account which pays 4.8% compounded quarterly, and you make no withdrawals from or further deposits into this account for 3 years. How much money is in your account at the end of those 3 years?Give answer in dollars rounded to the nearest cent. Do NOT enter "$" sign in answer.

Answer:$5265.71Step-by-step explanation:We have been given that you deposit $3000 into a money-market savings account which pays 4.8% compounded quarterly.We will use future value formula to solve our given problem.[tex]FV=C_0\times (1+r)^n[/tex], where,[tex]C_0=\text{Initial amount}[/tex],r = Rate of return in decimal form,n = Number of periods.[tex]4.8\%=\frac{4.8}{100}=0.048[/tex][tex]n=3\times 4=12[/tex][tex]FV=\$3,000\times (1+0.048)^{12}[/tex][tex]FV=\$3,000\times (1.048)^{12}[/tex][tex]FV=\$3,000\times 1.7552354909370114[/tex][tex]FV=\$5265.7064\approx \$5265.71[/tex]Therefore, there will be $5265.71 in your account at the end of those 3 years.