Homework Answers
Answer -
Interest earned in quarter 2 of first year= $309
Working-
| Quarter | Quarter starting balance | Interest earned | Ending quarter balance |
| 1 | $ 10,000.00 | $ 300.00* | $ 10,300.00 |
| 2 | $ 10,300.00 | $ 309.00 | $ 10,609.00 |
*(10000 x 12%) x 3/12
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