Jaden puts 300 into his account for school expenses
At the rate of 9% and was compounded quarterly
Time = 8 years
A = P(1 + r/n)^nt
P = Principal
r = interest rate
n = number of times it was compounded
P = 300
r = 9/100 = 0.09
n = 4
A = 300(1 + 0.09/4)^4 *8
A = 300(1 + 0.0225)^32
A = 300(1.0225)^32
A = 300 x 2.0381
A = $611.43
The answer is $611.43
