$2100.00 is invested in anaccount with a 3.8% interest ratethat is compounded quarterly.How much money is in theaccount at the end of one year?

asked Dec 27, 2023 208k views

1 vote

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5 votes

Given

$\begin{gathered} P=\text{ \$2100} \\ R=3.8\text{ \%} \\ n=(3)/(12)=(1)/(4)=0.25 \end{gathered}$

Formula

Substitute the given into the formula

The final balance is ₦2,180.94

Mbdavid answered Dec 31, 2023

7.7k points

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