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Pete Rool made deposits of $6,000 at the end of each quarter to Rote Bank, which pays 8% interest compounded quarterly. After 3 years, Pete made no more deposits. What would be the balance in the account
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Pete Rool made deposits of $6,000 at the end of each quarter to Rote Bank, which pays 8% interest compounded quarterly. After 3 years, Pete made no more deposits. What would be the balance in the account 2 years later, from the last deposit?

User Teejay Bruno
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4 votes
prt i=prt
p=$6000 i=6000x8%x3yr
r=8% i=1440x2=2880
t=3yr
User Dhan
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