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OpenStudy (anonymous):
Suppose you have $6000, how much does a return of 3.25% quarterly for 5 years yield? show your work.
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OpenStudy (anonymous):
is this simple interest or compound?
OpenStudy (anonymous):
quarterly: n = 4
OpenStudy (anonymous):
not sure, thats the entire question so i'm guessing simple
OpenStudy (anonymous):
if compound then new amount = 6000(1 + (3.25/4)^(4*5)
OpenStudy (anonymous):
that is right i was wrong \[6000(1+\frac{.0325}{4})^{20}\] is the total. subtract 6000 to find the interest
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