Question
an amount of 15000 is deposited in a bank paying on annual interest rate of 4.3% compounded quality what is the balance after 6 year.
Formula. a=p(1+r/n)nt
Formula. a=p(1+r/n)nt
Answers
That is really
a=p(1+r/n)^(nt)
Assuming you mean compounded quarterly, just plug in your numbers, with
r=0.043
n=4
t=6
a=p(1+r/n)^(nt)
Assuming you mean compounded quarterly, just plug in your numbers, with
r=0.043
n=4
t=6
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