SOLUTION: Mario Deposited $500 at 8% interest. The interest is compounded 4 times a year. how much money does Mario have iin his account after 3 years?

SOLUTION: Mario Deposited $500 at 8% interest. The interest is compounded 4 times a year. how much money does Mario have iin his account after 3 years?

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Question 369676: Mario Deposited $500 at 8% interest. The interest is compounded 4 times a year. how much money does Mario have iin his account after 3 years?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=500(1+0.08/4)^3*4
A=500(1.02)^12
A=500*1.268241
A=634.12
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