bewellplus.gsu.edu
yxclark123 yxclark123
  • 22-08-2014
  • Mathematics
Answered

If on the first of January a savings account has a balance of $3,200, what amount will be in this account after 3 years if the bank gives 6% per year interest compounded quarterly?

Verified Answer :

taraspears02 taraspears02
  • 23-08-2014

$3,200.00×3=$9,600.00
$9,600.00×.06=$10,176.00
$10,176.00×4=$40,704.00

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