malificent2004 malificent2004

20-09-2022
Mathematics

contestada

The Carters are saving up to go on a family vacation in 5 years. They invest $2400 into an account with an annual interest rate of 1.44% compounded
quarterly.
Answer the questions below. Do not round any intermediate computations, and round your final answers to the nearest cent. If necessary, refer to the
list of financial formulas.
(a) Assuming no withdrawals are made, how much money is in the Carters'
account after 5 years?
(b) How much interest is earned on the Carters' investment after 5 years?

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