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Ponce Leon has a principal of $900 in his savings account on October 1. The money earns an APR of 6.5% calculated quarterly as simple interest. What is the amount in the account on July 1 of the following
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Ponce Leon has a principal of $900 in his savings account on October 1. The money earns an APR of 6.5% calculated quarterly as simple interest. What is the amount in the account on July 1 of the following year?

User Hans Ginzel
by
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1 Answer

4 votes
A=900×((1+(0.065÷4)×(9÷12)))
A=910.96
User Artemean
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