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Michael's grandmother put $2500 in a savings account that has earned 8% interest compounded quarterly. The money has been left in the account for a total of 15 years. She wants to give this money to Michael.

Which equation can be used to find how much money Michael will receive?

 Dec 18, 2014

Best Answer 

 #1
avatar+98044 
+10

A = 2500(1 + .08/4)15*4 = 2500(1 + .02)60

 

 

 Dec 18, 2014
 #1
avatar+98044 
+10
Best Answer

A = 2500(1 + .08/4)15*4 = 2500(1 + .02)60

 

 

CPhill Dec 18, 2014
 #2
avatar+961 
+5

ok thank u

 Jan 8, 2015

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