Question

Trella Alcala deposited 1950.00 in a new credit union savings account on the first of the quarter. The principal earns 4.25 percent interest compounded quarterly. What was the amount in her account at the end of the 6 months?

Answer 1

A=1,905×(1+0.0425÷4)^(4*6/12)
A=1,945.70