Problem 12. (6 points)

Victor received a large sum of money as a birthday gift in the amount of 45 thousand rubles. The young man decided to save this part of his savings in dollars on a currency deposit. The term of the deposit agreement was 2 years, with an interest rate of 4.7% per annum, compounded quarterly. On the day the deposit was opened, the commercial bank bought dollars at a rate of 59.60 rubles per 1 US dollar and sold them at a rate of 56.60 rubles per 1 US dollar. What amount in US dollars will be on Victor's account at the end of the term of the deposit agreement (rounding to the nearest whole number)?
Answer: 873 USD.

## Comment:

45000 RUB / 56.60 RUB $\times(1+4.7\% / 4 \text { quarters })^{2 \text { years } \times 4 \text { quarters }}=873$ USD.