Question

Stanley opens a savings account and deposit $800 as principal The account earns 9% and interest annually compound quarterly what is the balance after five years

Answer 1

Answer:I think the answer is 1230.9

Step-by-step explanation:I think that is the answer because the equation you use to solve for interest compounded annually you use this:A=P(1+r)to the power of your time. And when you replace the equation with the information it should look like this:

800(1+.09)to the power of 5 and then you put it in your calculator and you should get 1230.9