SOLUTION: How do you do this problem? You decide to get an after school job and your first paycheck is for $500. Your parents make you put the money in a savings account that pays 3.8%

Question 1103014: How do you do this problem?
You decide to get an after school job and your first paycheck is for $500. Your parents make you put the money in a savings account that pays 3.8% interest and is compounded quarterly. After 3 years, how much money would you have?

Answer by josgarithmetic(39623) (Show Source): You can put this solution on YOUR website!
Three years will be compounding periods a a rate of percent EACH compounding period.

Balance after the three years:

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