Question

if you deposit 250 each quarter in a bank account that pays interest at 16% compounded quarterly how much will you have at the end of five years

Answer 1

You deposit 250 each quarter in a bank account that pays interest at 16% compounded quarterly.
Let's solve how much will you have at the end of five years.
=> 250 dollars with 16% interest per quarter
=> 5th year interest $79.54
=> TOtal interests $297.78
=> TOtal balance.$547.78