Heidi deposits $8,000 in a savings account that earns 4.5% interest, compounded quarterly. How much interest did she earn in 5 years? Round to the nearest cent.
Heidi deposits $8,000 in a savings account that earns 4.5% interest, compounded quarterly. How much interest did she earn in 5 years? Round to the nearest cent.
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 1P
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Heidi deposits $8,000 in a savings account that earns 4.5% interest, compounded quarterly. How much interest did she earn in 5 years? Round to the nearest cent.
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