Meghan deposited $2,500in an account at a bank that pays 16% compounded quarterly. Use the compound interest table to find the interest earned on the investment after 2 years.

Question

a. $921.43
b. $204
c. $2,704
d. $3,421.43

**This is a sample question** (Please Help!)

Answer 1

i = .16/4 = .04
n = 4(2) = 8

amount = 2500(1.04)^8 =3421.42

your textbook still has tables???
how old is this?