SOLUTION: A principal of $6000 is invested in an account paying an annual rate of 4%. Find the amount in the account after 3 years if the account is compounded semiannually,quarterly and mon
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Question 665947: A principal of $6000 is invested in an account paying an annual rate of 4%. Find the amount in the account after 3 years if the account is compounded semiannually,quarterly and monthly? Answer by rfer(16322) (Show Source):
You can put this solution on YOUR website! I will do one, you do the others
A=6000(1+0.04/2)^3*2
A=6000(1.02)^6
A=6000*1.1262
A=$6757.20
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