document.write( "Question 312115: Victor opens a savings account with $600. The account pays 5 1/2% interest, compounded quarterly. If he makes no other deposits or withdrawals, how much will Victor have in his account after 9 months?\r
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Algebra.Com's Answer #223159 by nerdybill(7384)\"\" \"About 
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Victor opens a savings account with $600. The account pays 5 1/2% interest, compounded quarterly. If he makes no other deposits or withdrawals, how much will Victor have in his account after 9 months?
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\n" ); document.write( "A = P(1 + r/n)^(nt)
\n" ); document.write( "P = principal amount (the initial amount you borrow or deposit)
\n" ); document.write( "r = annual rate of interest (as a decimal)
\n" ); document.write( "t = number of years the amount is deposited or borrowed for.
\n" ); document.write( "A = amount of money accumulated after n years, including interest.
\n" ); document.write( "n = number of times the interest is compounded per year
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\n" ); document.write( "Plug in what was given and solve for t:
\n" ); document.write( "A = 600(1 + .055/4)^(4*(9/12))
\n" ); document.write( "A = 600(1 + .055/4)^(9/3))
\n" ); document.write( "A = 600(1 + .055/4)^3)
\n" ); document.write( "A = 600(1.01375^3)
\n" ); document.write( "A = $625.09\r
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