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If on the first of January a savings account has a balance of $3,200, what amount will be in this account after 3 years if the bank gives 6% per year interest compounded quarter…

If on the first of January a savings account has a balance of $3,200, what amount will be in this account after 3 years if the bank gives 6% per year interest compounded quarter…
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If on the first of January a savings account has a balance of $3,200, what amount will be in this account after 3 years if the bank gives 6% per year interest compounded quarterly? ( Assume that there are no deposits or withdrawals of money during these three years.)

User Sushant Pimple
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1 Answer

3 votes

Answer:

3,811 is the answer to your equation.

User Stephen Rosenthal
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