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

Question

anonymous · Answer

@MysticFury

mysticfury · Answer

interest formula is A x R x Y = I
amount x rate x years ÷ 100
in that order
so we got 3700 x 1.84 x 6 = Interest 

3700 x 1.84 = 6808
6808 x 6 = 40848
40848 ÷ 100 = $408.48

so $408.48 is your answer

anonymous · Answer

Thank you for walking me through this just isnt my subject @MysticFury