SOLUTION: Find how much interest ​$10,000 earns in 4 years in a certificate of deposit paying 9.5​% interest compounded quarterly?

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Question 1142121: Find how much interest ​$10,000 earns in 4 years in a certificate of deposit paying 9.5​% interest compounded quarterly?
Answer by ikleyn(52778) About Me  (Show Source):
You can put this solution on YOUR website!
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Future value = 10000%2A%281%2B0.095%2F4%29%5E%284%2A4%29 = 14558.03 dollars.


The interest earned in 4 years = 14558.03 - 10000 = 4558.03 dollars.    ANSWER