Solution:
Given;
[tex]P=1500,A=1509,t=3months=0.25year[/tex][tex]\begin{gathered} A=P(1+\frac{r}{4})^{4t} \\ \\ 1509=1500(1+\frac{r}{4})^{4(0.25)} \\ \\ \frac{1509}{1500}=1+\frac{r}{4} \\ \\ 1.006-1=\frac{r}{4} \\ \\ r=4(0.006) \\ \\ r=0.024 \end{gathered}[/tex]Thus, the yearly interest rate on Bianca's account is 2.4%
