Question

what is the interest on $2500 compounded quarterly for 2 years at 9%

Answer 1

9% is the annual interest rate, quarterly interest rate would be:
\[(1+ quarterlyInterestRate)=\sqrt[4]{(1+annualInterestRate)}\]
\[(quarterlyInterestRate)=\sqrt[4]{(1+0.09)}-1\]
\[(quarterlyInterestRate)=2.1778%\]

Answer 2

Just plug the numbers into compounded interest formula!

Answer 3

\[(futureValue)=(currentValue)*(1+interestRate)^periods\]
\[(futureValue)=($2500)*(1+0.021778)^8\]

Answer 4

Then subtract the original value from the final and that is the amount that is a result of interest