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Olga deposited $1,500 in a savings account that pays 7.5% interest, compounded quarterly. What is the balance in her account at the beginning of the fourth quarter?
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Olga deposited $1,500 in a savings account that pays 7.5% interest,

compounded quarterly. What is the balance in her account at the
beginning of the fourth quarter?

User Nitza
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1 Answer

6 votes
Based on the question I generated the equation 1500(1.075^x). X being quarterly pays.
To solve the question i input 3 for X considering she hasnt been payed for the forth quarter.
The answer you get should be ~$1863.45
User Smottt
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