Question

Mr.ellis deposited $3700 into a savings account for which interest is compounded quarterly at a reate of 1.84% how much interest will he earn after 6 years

Answer 1

Quarterly applied interest means 4 times a year. So over 6 years we apply the interest 24 times. 1.84% interest means an increase from 100% initially to 101.84% after it is applied.
To do this we multiply the initial value by 1.0184. We have to do this 24 times, so:

Total(after interest) = 24 x 1.0184 x $3700