Question
If on the first of January a savings account has a balance of $3200 what amount will be in this account after three years if the bank gives 6% per year interest compounded quarterly?Assume that there are no deposits or withdrawals of money during these three years.
Answers
bobpursley
What is 3200(1+.06/4)<sup>3*4</sup> ?
john
3200(1+.06/4)3*4