Gavin deposited $1500 into his savings account that is compounded quarterly at an interest rate of 1.5%. how munch money will gavin have after 5 years?

The money will gavin have after 5 years is 1616.59$

Explanation:

We know that compound interest is given by  

          Where A = final amount

       P = Principal amount = $1500 (given)

r  = interest rate = 1.5% = 0.015

n = no. of times interest applied per time period = given quarterly = 4

t = time period = 5 years  

   So,

 = 1616.59$ which is the money will gavin have after 5 years

step-by-step explanation:

just plug in each number for x and see which ones work and don't

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