An amount of $1,500 is deposited in a bank paying an annual interest rate of 4.3 % compounded quarterly for 5 years. What is the compound interest?
Answers
Step-by-step explanation:
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Answer:
using the formula above with p= 15000 r = 4.3/100 = 0.043 n = 4 and t = 6 so balance after 6 year is approximately = $ 1938.4 this is your answer