If you deposit 250 each quarter in a bank account that pays interest at 16% compounded quarterly how much will you have at the end of five years

You deposit 250 each quarter in a bank account that pays interest at 16% compounded quarterly.

Let's solve how much will you have at the end of five years.

=> 250 dollars with 16% interest per quarter

=> 5th year interest $79.54

=> TOtal interests $297.78

=> TOtal balance.$547.78