SOLUTION: Suppose That $44,000 is invested in a certificate of deposite for 5 years at a 5% annual intrest to be compound quarterly

SOLUTION: Suppose That $44,000 is invested in a certificate of deposite for 5 years at a 5% annual intrest to be compound quarterly

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Question 364559: Suppose That $44,000 is invested in a certificate of deposite for 5 years at a 5% annual intrest to be compound quarterly

Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=44000(1+0.05/4)^4*5
A=44000(1.0125)^20
A=44000*1.282
A=56,408
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