You inherited 1,000 from your grandparents and place this amount ...

[imanialler]

You inherited 1,000 from your grandparents and place this amount in your savings account. If your bank pays 6 compounded quarterly, how much interest will you earn one year from now? Round to the nearest cent after each calculation.

Question 2

The date of a note is July 18 and interest is due on September 6. How many days is it from the initial date of the note to the day the interest is due?

[briezy]

Answer to Question 1

61.37;
6  4 = 1.5; 1,000  0.015 = 15; 1,015  0.015 = 15.23; 1,030.23  0.015 = 15.45; 1,045.68  0.015 = 15.69; Add the interest for a total amount of 61.37.

Answer to Question 2

50 days;
July has 13 more days, August has 31, and September has 6 days.

[imanialler]

Gracias!

[nothere]

TYSM