Answer:
$772.75
Explanation:
For a principal, P compounded quarterly at an interest rate, r, we use the formula below to find the amount.
[tex]A=P\mleft(1+\frac{r}{4}\mright)^{4t}[/tex]Principal, P = $750.00
Interest Rate, r = 3%=0.03
Time, t = 1 years
Thus, we have:
[tex]\begin{gathered} A=750(1+\frac{0.03}{4})^{4\times1} \\ =772.75 \end{gathered}[/tex]The balance at the end of one year is $772.75
