SOLUTION: David deposits $230 into a savings account that accrues 12% interest compounded quarterly each year. How much money will David earn in interest after 3 years?
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Question 1070170: David deposits $230 into a savings account that accrues 12% interest compounded quarterly each year. How much money will David earn in interest after 3 years? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! David deposits $230 into a savings account that accrues 12% interest compounded quarterly each year. How much money will David earn in interest after 3 years?
A(3) = 230(1+(0.12/4))^(4*3) = $327.93
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Cheers,
stan H.
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