Answer:
Interest is $297.87
Step-by-step explanation:
First calculate the amount and the compound interest.
Compound Interest = PNR where P is the Principal; R is the rate of interest and N is the no of terms
Therefore Compound Interest of first quarter = $9,855 x 6% x [tex]\frac{1}{4}[/tex] = $147.83
Amount = Principal + Interest = $9,855 + 147.83 = $10,002.83
Compound interest of second quarter = 10,002.83 x 6% x[tex]\frac{1}{4}[/tex] = $150.04
Amount = 10,002.83+150.04 = $10,152.87 a
Interest is 10,152.87-9,855= $297.87
