Asked by chun
                Peter deposited RM 1,536 on 15 May 2010 into account that pays 10% compounded quarterly. Find the interest earned on 15 February 2015
            
            
        Answers
                    Answered by
            henry2, 
            
    P = Po(1+r)^n.
r = 0.10/4 = 0.025 = quarterly % rate.
n = 4*4.75 = 19 compounding periods.
P = 1536(1+0.025)^19 = 2455.53
I = P-Po =
    
r = 0.10/4 = 0.025 = quarterly % rate.
n = 4*4.75 = 19 compounding periods.
P = 1536(1+0.025)^19 = 2455.53
I = P-Po =
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