P : Principal amount deposited : $600
r : interest rate : 5 % = 0.05 ( decimal form)
n : number of compounding periods in a year : 4 (4 times in a year)
t : years
Apply compound interest formula:
A= P (1+r/n)^nt
Replace by the values given:
A = 600 (1+0.05/4)^(4.3)
A = 600 ( 1.0125) ^12
A =$ 696.45
