LoveTabby LoveTabby

03-03-2017
Mathematics

Answered

Suppose that when your friend was born, your friend's parents deposited $2000 in an account paying 3.8 interest compounded quarterly. What will the account balance be after 14 years?

Verified Answer :

Aliwohaish12 Aliwohaish12

03-03-2017

A=2,000×(1+0.038÷4)^(4×14)
A=3,396.13

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