1. Deposit 1000 yuan in the bank, the annual interest rate is 8%, compound interest once a quarter, what is the final value after five years?

1. Deposit 1000 yuan in the bank, the annual interest rate is 8%, compound interest once a quarter, what is the final value after five years?

1000 * (1 + 8% / 4) ^ 20 = 1485.95 yuan
^20 means to multiply 20 times in brackets, that is, you need to pay interest 20 times