SOLUTION: Suppose you deposit $1,200 in an account with an annual interest rate of 6% compounded quarterly. find the ammont of money in the account after 8 years.
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Question 402176: Suppose you deposit $1,200 in an account with an annual interest rate of 6% compounded quarterly. find the ammont of money in the account after 8 years.
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
The formula is:
= depoit
= interest rate
= number of times compounded/yr
= number of years
$1932.39 is amount after 8 yrs
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