Question

Stan's savings account has a balance of $4706. After 4 years, what will the amount of interest be at 4% compounded quarterly?
a.
$94.12
c.
$803.16
b.
$812.16
d.
$817.16

Answer 1

Start with

4% (annually) is how much interest in a quarter?

Answer 2

would it be B?

Answer 3

well - without any indication of how oyu got there I cannot confirm or deny your answer.

You could start by answering my first question (how much interest in a quarter)

Then how many quarters in 4 years?

Or you could guess - there is a 1:4 chance you will be correct (it could even be B)