cocobear121
contestada

David deposits $230 into a savings account that accrues 12% interest compounded quarterly each year. How much money will dave earn in interest after 3 years?

A. $97.93

B. $99.38

C. $327.93

D. $329.38

Respuesta :

wegnerkolmp2741o

Answer:

C. $327.93

Step-by-step explanation:

The formula for interest compounded quarterly is

A = P(1 + r/n)nt   where P is the principal

                                r is the rate

                                t is the time in years  

                                n is the compoundings per year

 p =230  r= .12  t= 3  n =4  since it is quarterly

Substituting these in

A = 230 (1+ .12/4)^(3*4)

   = 230(1.03)^12

    =327.93

isaacsbfarms

Answer:

The answer is C. $327.93

Hope this helps and have a Merry Christmas.  

P.S. Could you make me brainlest?  It would help SO much.  Thanks!


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