SOLUTION: If you invest $500 in an account that earns 3.6% interest, compute the value of your investment after one year compounding quarterly.
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Question 252208: If you invest $500 in an account that earns 3.6% interest, compute the value of your investment after one year compounding quarterly.
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
500(1+.036/4)^1*4
500(1+.009)^4
500*1.009^4
500*1.0365=$518.24 amount of investment after one year.
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