Question

Nathan opened a savings account 11 years ago with a deposit of $2,665.79. The account has an interest rate of 4.8% compounded quarterly. How much interest has Nathan earned?

Answer 1

below gives the overall amount :
\[\huge 2,665.7 \left( 1+\frac{0.048}{4} \right )^{4*11} \]

Answer 2

subtract it from the initial deposit to get the interest earned

Answer 3

thankyouu!

Answer 4

u welcome :) hope you understand how we put that expression above.. ?

Answer 5

yeah i get it now

Answer 6

glad u get it :)