Jose has $4,800 to invest in a saving account. He receives a steady interest rate of 3.35% compunded quarterly. He would like to save or the next 5 years and then take his money out. What would be his balace at the end of the 5 years? $9,354.20 $7,211.74 $5,671.30 $5,604.00

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A: Solution:

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A:

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A: This is a compound interest problem. The correct option here is option (B) Solution provided below

Q: what is the 2%interest rate over 5 years

A: here given    carlos has 3000 to open a bank account p =3000 R =2% N = 5 years  I =PRN100

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A: We can make it easier to get it.

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A:

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