You deposit $30,000 into a savings account with an interest rate of 2.5% compounding quarterly for 10 years. Part A- how much interest do you earn in 10 years? Part B- how much money will be your account

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Michelin Man asked Jun 28, 2022

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You deposit $30,000 into a savings account with an interest rate of 2.5% compounding quarterly for 10 years.

Part A- how much interest do you earn in 10 years?
Part B- how much money will be your account at the end of 10 years.

Mathematics
high-school

Michelin Man asked Jun 28, 2022

by Michelin Man

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Answer:

30,000 divided by 1.23/100 then multiply 30,000 by 0.0123 the answer is 369, hope this helps

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Thibaud answered Jul 2, 2022

by Thibaud

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