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ctrahan00
ctrahan00 ctrahan00
  • 09-03-2017
  • Mathematics
Answered

Suppose that $2000 is invested at a rate of 3.4% interest, compounded quarterly. Assuming no withdrawals are made, find the amount after 10 years

Verified Answer :

Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 09-03-2017

A=p(1+i/m)^mn
A=2,000×(1+0.034÷4)^(4×10)
A=2,805.86

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