SOLUTION: Can someone please help me with this problem: Find the compound interest earned by the deposit. Round to the nearest cent. $15,000 at 4% compounded quarterly for 1/2 year

Question 203889: Can someone please help me with this problem:
Find the compound interest earned by the deposit. Round to the nearest cent.
$15,000 at 4% compounded quarterly for 1/2 year
Answer by jojo14344(1513) (Show Source): You can put this solution on YOUR website!

Given:

Let us find first the Future Value:
Working Eqn:

So the compounded interest earned:
= F - P
= $15,301.50 - $15,000
= $301.50 (Answer)

Thank you,
Jojo
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