Find the amount in an account if 7,650 is invested at 9.15 percent compounded quarterly for 8 years and 6 months

We have been given that in an account an amount of 7,650 is invested at 9.15 percent compounded quarterly for 8 years and 6 months.

We will use compound interest formula to find our answer.

,

Where, P= principle amount, A= amount after T years, n= period of compounding and r = interest rate (decimal).

Let us substitute our given values in our formula.

Therefore, after 8 years and 6 months our amount will be 16505.497.

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