Question 1122308
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4.8% compounded quarterly means the amount increases by 1.2% each quarter.  That means the amount grows by a FACTOR of 1+1.2% = 1+.012 = 1.012 each quarter.<br>
In 3 years the original amount will grow by that factor 12 times (4 times a year for 3 years).  So the amount after 3 years will be<br>
{{{3000(1.012)^12 = 3461.68}}}