Answered

Westonci.ca offers quick and accurate answers to your questions. Join our community and get the insights you need today. Get accurate and detailed answers to your questions from a dedicated community of experts on our Q&A platform. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform.

Walters savings account has a balance of $273. After 5 years, what will the amount of interest be at 5% compounded quarterly?

Sagot :

Sandy1729
The answer is $350

The formula is as follows: [tex]P(1+r/n) ^{nt} [/tex]

P: Principal Amount : $273
r: Rate of interest: 5%
n: number of times the interest is compounded: 4 (Since Quarterly)
t:  number of years : 5
Thanks for using our service. We aim to provide the most accurate answers for all your queries. Visit us again for more insights. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Thank you for trusting Westonci.ca. Don't forget to revisit us for more accurate and insightful answers.