Question

PLEASE HELP

Complete the table by computing the amount in the account at the end of each period.

Answer 1

See below

Explanation:

• Initial Principal P₀ = 1000
• End of first period = 1000 + 1000*0.02/4 = 1005
• End of second period = 1005 + 1000*0.02/4 = 1010
• End of third period = 1010 + 1000*0.02/4 = 1015
• End of fourth period = 1015 + 1000*0.02/4 = 1020