SOLUTION: $300 earning 4.5% interest compounded quarterly for 3 years

SOLUTION: $300 earning 4.5% interest compounded quarterly for 3 years

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Question 307882: $300 earning 4.5% interest compounded quarterly for 3 years
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
P=C(1+ r/n )^nt
C=300
r=4.5%
n=4
t=3
P= 300(1 + 0.045/4)^4*3
P=$343.1
Compound interest = $43.1
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