Your bank account balance is - $20.85. You deposit $15.50. What is your new balance
2 answers:
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Answer:
$722444.49386776
Step-by-step explanation:
Use Compound Intrest Formula
- where p is the original amount.
- R is the amount of percentage compounded
- N is amount of times compounded per year.
- T is how long the interest last.
P is 400,00p
T is 12% or 0.12
N is 4 since it is compounded quarterly
T is 5.
Plug the values in
Ypu get
$722444.49386776