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Craig invests $800 into an account with a 2.5% interest rate that is compounded quarterly. How much money will he have in this account if he keeps it for 10 years?

Craig invests $800 into an account with a 2.5% interest rate that is compounded quarterly. How much money will he have in this account if he keeps it for 10 years?
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Craig invests $800 into an account with a 2.5% interest rate that is compounded quarterly. How much money will he have in this account if he keeps it for 10 years?

User Scooz
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1 Answer

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First you have to take 800 and multiply it by 1.025 ten times so after doing the calculations you end up with 1,024.06 after rounding
User Pankaj Pareek
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