Andrea's savings account has a balance of $169. After 2 years, what will the amount of interest be at 12% compounded quarterly?
Would the set up be: A=169(1+.12/4)^8?

Question

Andrea's savings account has a balance of $169. After 2 years, what will the amount of interest be at 12% compounded quarterly?
Would the set up be: A=169(1+.12/4)^8?

here_to_help15 · Answer

hopes this help :P http://www.algebra.com/algebra/homework/absolute-value/absolute-value.faq.question.590334.html

here_to_help15 · Answer

@xlilly ?

gorv · Answer

compounded quarterly means rate = rate/4

gorv · Answer

time = time*4

anonymous · Answer

iknow how to solve it just wasnt sure of the setup.. so then after tht i subtract my answer-169 to get the interest ?

gorv · Answer

yeah your setup is right