Anonymous asked in Business & FinancePersonal Finance · 1 month ago

Principal of $5000, using compound interest at 5.25% p/a for 1 year compounding quarterly, what is the ending balance per quarter? Correct?

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1 Answer

  • Bryce
    Lv 7
    1 month ago

    balance per quarter= 5000*(1 + 0.0525/4)^t, t= the number of quarters

    $5267.71 is the ending balance for fourth quarter and the total for the year.

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