Mathematics, 22.01.2020 08:31 A1A2T3
Elton opened a compound interest savings account with $5500 in principal and an interest rate of 2.8%. if interest is compounded quarterly, how much is in the account after 4 years?
interest compounded quarterly: a = p (1 + r/4)4t
a.
$6149.42
b.
$6142.36
c.
$649.42
d.
$642.36
Answers: 3
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