That's pretty cool. Can I see an example?
Sure.
In the beginning of 1997, Priscilla invested $5,000 in a savings account that that pays 8% annual income, compounded quarterly. If Priscilla makes no further deposits into or withdrawals from the account, approximately how much money will she have in the account two years later, at the end of 1998?
$800
$858
$5,800
$5,858
$10,000