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28 November, 13:48

Pete Rool made deposits of $6,000 at the end of each quarter to Rote Bank, which pays 8% interest compounded quarterly. After 3 years, Pete made no more deposits. What would be the balance in the account 2 years later, from the last deposit?

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  1. 28 November, 15:54
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    Prt i=prt

    p=$6000 i=6000x8%x3yr

    r=8% i=1440x2=2880

    t=3yr
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