Solve the following compound interest problem. Round interest to the nearest cent after each compounding.
If $20,000 is invested in a savings account that pays 4% compounded quarterly, how much is in the account at the end of 9 months?
Any help would be appreciated thanks!
If $20,000 is invested in a savings account that pays 4% compounded quarterly, how much is in the account at the end of 9 months?
Any help would be appreciated thanks!