posted by linda on .
compounded- what would be the amount of compound interest on $12,000 invested for one year at 6%, compounded quarterly? round your answer to the nearest tenth. could you show me the work please ? i had $737.00 is that answer correct?
amount = 12000(1.015)^4
so we gained 736.36 in interest
or 736.40 to the nearest tenth of a dollar