Question 730041
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Suppose you invest $250 in an account that pays 4.5% interest compounded quarterly.
After 30 months, how much is in your account?
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In this problem, 30 months is 30/3 = 10 quarters.

So, there were 30 compounding.


The standard formula for compounded account gives the future value

    FV = {{{250*(1+0.045/4)^10}}} = 279.59 dollars.    <U>ANSWER</U>
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Solved.