SOLUTION: Betty invested $5000 at 8% compounded quarterly for 15 years. How much is this invested worth at the end of this period?
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Question 1168200: Betty invested $5000 at 8% compounded quarterly for 15 years. How much is this invested worth at the end of this period?
Answer by josgarithmetic(39617) (Show Source): You can put this solution on YOUR website!
8% interest per year compounded quarterly means that each quarter is 2% rate.
15 years is 60 quarter terms.
-----------the balance at the end.
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