Answer:
$ 297.87 interest
Step-by-step explanation:
Calculate the amount and the compound interest.
Amount = PNR Where P is Principal ; N is the no of Terms and R is the rate of interest
Amount of 1 st quarter = $ 9,855 x 6 % x [tex]\frac{1}{4}[/tex] = $147.83
Compound interest is $ 9,855 + 147.83= $ 10,002.83
Amount of 2 nd quarter , 10,002.83 x 6% x [tex]\frac{1}{4}[/tex] = $150.04
Compound Interest is 10,002.83 + 150.04 = $10,152.87 amount
10,152.87 - 9,855= $297.87 interest
