SOLUTION: how much money will there be in an account at the end of 10 years if $16,000 is deposited at 7% interest compounded quarterly

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Question 605886: how much money will there be in an account at the end of 10 years if $16,000 is deposited at 7% interest compounded quarterly
Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!
 
Hi,
how much money will there be in an account at the end of 10 years if $16,000 is
deposited at 7% interest compounded quarterly
Note: In General:
A = Accumulated Amount
P= principal = $16,000
r= annual rate = .07
m= periods per year = 4
t= years = 10


A= $32,025.56
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