SOLUTION: Find how much interest $10,000 earns in 4 years in a certificate of deposit paying 9.5% interest compounded quarterly?

SOLUTION: Find how much interest $10,000 earns in 4 years in a certificate of deposit paying 9.5% interest compounded quarterly?

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Question 1142121: Find how much interest $10,000 earns in 4 years in a certificate of deposit paying 9.5% interest compounded quarterly?
Answer by ikleyn(52780) (Show Source): You can put this solution on YOUR website!
.


Future value =  = 14558.03 dollars.


The interest earned in 4 years = 14558.03 - 10000 = 4558.03 dollars.    ANSWER

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