Find the balance of the account. The problem is: $3,800 principal earning 2% compounded quarterly after 7yrs.


I understand how to figure an equation that earns annually but not sure what # to use for quarterly interest
Tk you

• CI calculated quarterly = P (1 + r/(4*100))^4n
  = 3800(1+2/400)^28
  =4369.5
• 10 years agoHelpfull: Yes(0) No(0)