On April 1, 2006 Francine opened a savings account paying $9.2\%$ convertible quarterly with a deposit of $\$4500$. On October 1, 2007, she withdrew $\$2400$. On July 1, 2008, she deposited $\$3000$. What was the account balance on January 1, 2011?
I tried bringing all of these values to the initial deposit and solving for x. This answer was incorrect. How should I proceed?
You take each cash flow and compound it by the CONVERTED quarterly interest rate. Thus,
$4500 \cdot \left( 1+ \frac{.092}{4} \right) ^{19} - 2400\cdot\left( 1+ \frac{.092}{4} \right)^{13} + 3000\cdot\left( 1+ \frac{.092}{4} \right)^{10} = ?$
Calculate the term above for the final balance.