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29 August, 18:52

Stan's savings account has a balance of $4706. After 4 years, what will the amount of interest be at 4% compounded quarterly?

A. 94.12$

B. 812.16$

C. 803.16$

D. 817.16$

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Answers (1)
  1. 29 August, 20:08
    0
    A=4,706 * (1+0.04:4) ^ (4*4)

    A=5,518.16

    Interest earned=5518.16-4706=812.16
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