Answer :
The answer is $350
The formula is as follows: [tex]P(1+r/n) ^{nt} [/tex]
P: Principal Amount : $273
r: Rate of interest: 5%
n: number of times the interest is compounded: 4 (Since Quarterly)
t: number of years : 5
The formula is as follows: [tex]P(1+r/n) ^{nt} [/tex]
P: Principal Amount : $273
r: Rate of interest: 5%
n: number of times the interest is compounded: 4 (Since Quarterly)
t: number of years : 5