Homework Help: math

Posted by Anonymous on Tuesday, February 26, 2013 at 2:41pm.

john hunt has invested $500.00 in a savings account that pays 6% annual interest, compounded quarterly. After the second quarter of interest has been credited, what is the amount in the account?

math - Steve, Tuesday, February 26, 2013 at 2:59pm
500(1+2*.06/4) = $515.00

Answer this Question

Related Questions

geometry - A person deposits $500.00 into a savings account and pays 5% annual ...
Math - A person deposited $500 in a savings account that pays 5% annual interest...
math - 37. A person deposited $500 in a savings account that pays 5% annual ...
math - 37. A person deposited $500 in a savings account that pays 5% annual ...
math - a person deposited $500 in a savings account that pays 5% annual interest...
math 10 - Theo deposited $1,250 in a savings account that pays 6% interest, ...
math - You deposit $2200 in an account that pays 3% annual interest. After 15 ...
math - if you invest 500 dollars in a savings account that pays 8% interest per ...
math - This problem has to do with exponential models. The question says, you ...
algebra - You deposit $500 in an account that pays 3% annual interest. Find the ...

For Further Reading

First Name:
School Subject:
Answer: