David deposits $230 into a savings account that accrues 12% interest compounded quarterly each year. how much money will dave earn in interest after 3 years? a. $97.93 b. $99.38 c. $327.93 d. $329.38

C. $327.93

Step-by-step explanation:

The formula for interest compounded quarterly is

A = P(1 + r/n)nt   where P is the principal

                                r is the rate

                                t is the time in years  

                                n is the compoundings per year

 p =230  r= .12  t= 3  n =4  since it is quarterly

Substituting these in

A = 230 (1+ .12/4)^(3*4)

   = 230(1.03)^12

    =327.93

admin for giving such valuable information through your article . your article is much more similar to   word unscramble tool because it also provides a lot of knowledge of vocabulary new words with its meanings.