nbrittsan3 nbrittsan3

19-11-2020
Mathematics

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Find the amount of money in an account after 9 years if $2300 is deposited at 8% annual interest compounded quarterly

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netizenwebb netizenwebb

19-11-2020

Answer:

4691.74

Step-by-step explanation:

A = P(1 + r/n)^nt

= 2300(1 + .08/4)^(4 * 9)

= 2300(1.02)³⁶

= 2300 * 2.039887

= 4691.74

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