Posted by Amanda on Wednesday, June 13, 2012 at 3:19pm.
15,000*[1 + (.085/4)]^16 -15,000
= 20,999.28 - 15,000 = $5999.28
Without compounding, it would be
15,000*.085*4 = $5100.00
This is how much is EARNED and does not include the original $15,000
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