<PRE><B>Question 287118</B>
Julie borrowed $400 for 1 year at 8% interest compounded quarterly. 
What is the compound interest? 
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Interest = 400[(1+(0.08/4)^(4*1) - 400]
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interest = 400[(1.02)^4 -1]
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interest = 400[0.0824]
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interest = $32.97
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Cheers,
Stan H.
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