document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1122308>Question 1122308</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You deposit $3000 into a money-market savings account which pays 4.8% compounded quarterly, and you make no withdrawals from or further deposits into this account for 3 years.  How much money is in your account at the end of those 3 years? </SPAN>\n" );
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document.write( "4.8% compounded quarterly means the amount increases by 1.2% each quarter.  That means the amount grows by a FACTOR of 1+1.2% = 1+.012 = 1.012 each quarter.<br><BR>\n" );
document.write( "In 3 years the original amount will grow by that factor 12 times (4 times a year for 3 years).  So the amount after 3 years will be<br><BR>\n" );
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