SOLUTION: You invest $4,500 at 10% interest, compounded quarterly, for 1 year. Calculate the compound interest. $___________ ____

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Question 977761: You invest $4,500 at 10% interest, compounded quarterly, for 1 year. Calculate the compound interest.
$________________
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
You invest $4,500 at 10% interest, compounded quarterly, for 1 year. Calculate the compound interest.
--------
A(1) = 4500(1.10)^1
A(1) = 4950
$4950________________
Cheers,
Stan H.