Concept Check
Complete the problem. (From Example 1)
1. Liz Reynolds deposited $2,000 into a savings account that pays 8% compounded quarterly, Complete the
table to compute the amount in the account after 1 year.
Original Principal
Interest for First Quarter
Amount at End of First Quarter
Interest for Second Quarter
Amount at End of Second Quarter
Interest for Third Quarter
Amount at End of Third Quarter
Interest for Fourth Quarter
Amount at End of Fourth Quarter
$2,000.00 x 8%*%=
$2,000.00+ $40,00-
$2,040.00 x 8% x = b.
e.
$40.00
h.
F
4
m
a.
+C.
d.
+1.
W
98 +1.
$2,000,00
$40.00
