SOLUTION: Compute the compounded quarterly interest earned over 2 years time on 200.00 deposited into an acount earning 4 percent annually

SOLUTION: Compute the compounded quarterly interest earned over 2 years time on 200.00 deposited into an acount earning 4 percent annually

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Question 257673: Compute the compounded quarterly interest earned over 2 years time on 200.00 deposited into an acount earning 4 percent annually
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=200(1+.04/4)^4*2
A=200(1.01)^8
A=200*1.0828567
A=216.57
interest earned= $16.57
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