Question

If $300 is invested at a rate of 5% per year and is compounded quarterly how much will the investment be worth in 15 years?

Answer 1

In 15 years the final balance will be $632.15

Explanation:

The final balance would be $632.15 and the total compound interest would be $332.15. If you have trouble with these kind of questions in the future I suggest using a compound interest calculator that can be found online :)