Posted by lynn on .
Hello, I'm having a hard time fingering our this question. Not really sure what formula to use. Thanks in advance!
For a five year period, Ned deposited $800 each quarter into an account paying 5.6% annual interest compounded quarterly.
(a) How much money was in the account at the end of 5 years?
(b) How much interest was earned during the 5 year period?