SOLUTION: Suppose you have $4230 in an account that earn 6% interest compounded quarterly. How much interest will you earn in 2 years?

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Question 1135392: Suppose you have $4230 in an account that earn 6% interest compounded quarterly. How much interest will you earn in 2 years?
Found 2 solutions by ikleyn, MathTherapy:
Answer by ikleyn(52776) About Me  (Show Source):
You can put this solution on YOUR website!
.

Yes, agree, there was a mistake in my calc.

Thanks to @MathTherapy for noticing it.

I deleted my calc.



Answer by MathTherapy(10551) About Me  (Show Source):
You can put this solution on YOUR website!
Suppose you have $4230 in an account that earn 6% interest compounded quarterly. How much interest will you earn in 2 years?
@IKLEYN made a mistake. 

She should have had: %22%244%2C230%22+%2A%281+%2B+0.06%2Fhighlight%284%29%29%5E%282%2A4%29+-+4230 = $535.06, instead of 4230%2A%281%2B0.06%2Fhighlight%2812%29%29%5E%282%2A4%29+-+4230 = $172.19.