Question

If you invest $300 at 3% compounded quarterly after a period of 3 years, how much money do you have after 3 years?

Answer 1

`4008$`

Explanation:

`3%` of `300` is:
`300 * 3/100 = 9`

So you will get every quarter`+309$`

This means you get `4*309=1236` annualy.

After 3 years you get:
`1236*3=3708$`

So in the end you have:
`3708+300=4008$`