SOLUTION: Tessa invests $5500 in a new savings account which earns 4.2% annual interest, compounded quarterly. What will be the value of her investment after 7 years? Round to the nearest ce
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Question 1140858
:
Tessa invests $5500 in a new savings account which earns 4.2% annual interest, compounded quarterly. What will be the value of her investment after 7 years? Round to the nearest cent.
Found 2 solutions by
josmiceli, ikleyn
:
Answer by
josmiceli(19441)
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$7,368.51 after 7 yrs
-------------------------
check:
Checks with what I have
OK
Answer by
ikleyn(52864)
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put this solution on YOUR website!
.
Future value =
= 7368.51 dollars. The formula is self-explanatory.
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