Question

A woman invested $25,000 in a savings account paying 4% interest compounded quarterly. How much money will she have in her account at the end of 3 years? (Type an integer or decimal rounded to the nearest hundredth as needed) Please help me solve.

Answer 1

well you need to know the simple interest formula

i=prt

p=principle money you already had
r=rate (percentage rate)
t=time

multiply all of those together
25000*0.04*3

what do you get?