Question
Olga deposited $1,500 in a savings account that pays 7.5% interest,
compounded quarterly. What is the balance in her account at the
beginning of the fourth quarter?
compounded quarterly. What is the balance in her account at the
beginning of the fourth quarter?
Asked by: USER3351
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185 Answers
Answer (185)
Based on the question I generated the equation 1500(1.075^x). X being quarterly pays.
To solve the question i input 3 for X considering she hasnt been payed for the forth quarter.
The answer you get should be ~$1863.45
To solve the question i input 3 for X considering she hasnt been payed for the forth quarter.
The answer you get should be ~$1863.45