Mr. Guny deposits $4,900 in a savings account that pays 3 1/2% interest compounded quarterly.
1 answer:
9514 1404 393
Answer:
see attached
Step-by-step explanation:
A spreadsheet performs these computations nicely. Each quarter's interest is 0.035/4 times the balance at the end of the previous quarter, rounded to the nearest penny. Each quarter's balance is the sum of the interest and the previous balance.
See the attached for the numbers requested.
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