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

1 Answer
Mar 2, 2018

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$