Fill in the following chart by calculating interest compound quarterly. The principal (beginning balance) is multiplied by one-fourth the interest rate to get the amount of interest paid. Then the four quarters of interest are added together, and this total is added to the beginning balance to get the ending balance. The ending balance becomes the beginning balance for the next year. The annual percentage yield is 8 percent.

Year	Beginning Balance	First Quarter	Second Quarter	Third Quarter	Fourth Quarter	Total Interest	Ending Balance
1	$500.00	$40.00	$43.20	$46.66	$50.38	$230.62	$730.62
2	$730.62	$58.44	$63.12	$68.17	$73.63	$263.36	$993.98
3	$993.98	$79.52	$85.88	$92.75	$100.17	$48.29
4			$12.94
5							$742.96