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Which of these equations would give you the balance on an account with a principal of $3000 and an interest rate of 8%, compounded quarterly, after 5 years?

 Mar 11, 2018
 #1
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Where are your "equations"??

 

FV =$3,000 x [1 + 0.08/4]^(5*4)

FV =$3,000 x [1.02]^20

FV =$3,000 x  1.485947395........

FV =$4,457.84 - Balance of the account after 5 years @ 8% compounded quarterly.

 Mar 11, 2018

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