SOLUTION: Find the amount of money in an account after 8 years if a principal of $2000 is invested at 3.8% interest compounded quarterly.

SOLUTION: Find the amount of money in an account after 8 years if a principal of $2000 is invested at 3.8% interest compounded quarterly.

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Question 125850:
Find the amount of money in an account after 8 years if a principal of $2000 is invested at 3.8% interest compounded quarterly.
Answer by checkley71(8403) (Show Source): You can put this solution on YOUR website!
2,000(1+.038/4)^8*4
2000(1+.0095)^32
2000(1.0095)^32
2000*1.366=$2,735.51 IS THE AMOUNT AFTER 8 YEARS.
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