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A bank offers a savings account that accrues compound interest quarterly at a rate of 4%. What is the initial amount needed in this account so that after 8 the account has a total of 439? Please help!!
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A bank offers a savings account that accrues compound interest quarterly at a rate of 4%. What is the initial amount needed in this account so that after 8 the account has a total of 439?

Please help!!! I need the equation and the answer itself

A bank offers a savings account that accrues compound interest quarterly at a rate-example-1
User Jko
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1 Answer

6 votes

Answer:

439(1+4/100x8=579.48

User Sampath D
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