how many times will interest be added to the principal in one year if the interest is compounded quarterly??
2 answers:
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Not sure if this is correct but:
Step-by-step explanation: P = 2000
R = 5% = 0.05
n = 4
y = 2000 ( 1 + )
= 2000 ( 1.0125 )
Substitute values in the compound interest formula:
y = P ( 1 + )
.
Hope this helps..
Check the picture below.
they're at a 3:1 ratio, thus, 3 times.
they're at a 3:1 ratio, thus, 3 times.