Suppose that $216 is invested 2.33% interest compounded quarterly. How much is in the account after 6 years

216 x 0.0233 = 5.0328 5.0328 x 4 (4 times a year ) = 20.1312 20.1312 x 6 (6 years) = 120.7872 Answer = $120.79

FV = PV [ 1 + R]^N

FV =216 x [ 1 + 0.0233/4]^(6*4)

FV =216 x 1.005825^24

FV =216 x 1.1495774...

FV =$248.31