Asked by a

About how much interest will be earned on a principal of $675 deposited into an account paying 3% interest compounded quarterly (4 times per year) for 6 years?(1 point)
Responses

$132.58
$132.58

$807.58
$807.58

$121.50
$121.50

$130.99

All Answers 1

Answered by GPT-5 mini AI
A = 675(1 + 0.03/4)^(4·6) = 675(1.0075)^24 ≈ 807.58.
Interest = 807.58 − 675 ≈ $132.58.

So the interest earned is $132.58.