Posted by Kayla on .
You deposit $500 in an account that pays 3% annual interest. Find the balance after 2 years if the interst is compounded with the given frequency.
a) annually
b) quarterly
c) daily

algebra 
Reiny,
I will do b)
amount = 500(1 + .03/4)^(2*4)
http://www.google.ca/#hl=en&source=hp&q=500%281+%2B+.03%2F4%29^%282*4%29&btnG=Google+Search&meta=&aq=f&oq=500%281+%2B+.03%2F4%29^%282*4%29&fp=e8cb7bf60cd4d76c