Question

You invest $300 into a savings account that has in interest of

5% compounded quarterly


Principal=
Number of times compounded=
Rate=
Equation:

How much money would you have after 7 years?

Answer 1

Principal = $300

Number of times compounded = quarterly

Rate = 5%

Equation = A = P(1 + r/n)^nt

You would have $613.09 after 7 years.