SOLUTION: Find how much interest $15,000 earns in 4 years in a certificate of deposit paying 8.5% interest compounded quarterly.

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Question 620535: Find how much interest $15,000 earns in 4 years in a certificate of deposit paying 8.5% interest compounded quarterly.
Found 2 solutions by ewatrrr, lynnlo:
Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!
 
Hi,
In General
A = Accumulated Amount
P= principal = 15,000
r= annual rate = .085
n= periods per year = 4
t= years = 4


Answer by lynnlo(4176)   (Show Source): You can put this solution on YOUR website!
$20.79
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