9 years is 36 quarters at 2.5/4 = 0.625 %
every quarter multiply by 1.00625
6,300 * 1.00625^36 = 6,300 * 1.251446136 = 7884.11
Find the final amount of money in an account if
$
6
,
300
is deposited at
2.5
%
interest compounded quarterly (every 3 months) and the money is left for
9
years.
1 answer
2 answers