Question 605886
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Hi,
how much money will there be in an account at the end of 10 years if $16,000 is
 deposited at 7% interest compounded quarterly
Note:  In General: {{{A = P(1+r/m)^mt}}}
A = Accumulated Amount 
P= principal = $16,000
r= annual rate = .07
m= periods per year = 4
t= years = 10
{{{A = $16000(1+.07/4)^40}}}
{{{A = $16000(1.0175)^40}}}
A= $32,025.56