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Heather invests $6,944 in a retirement account with a fixed annual interest rate of 3.39% compounded 6 times per year. What will the account balance be after 13 years?
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Heather invests $6,944 in a retirement account with a fixed annual interest rate of 3.39% compounded 6 times per year. What will the account balance be after 13 years?

User Jzbruno
by
7.4k points

2 Answers

1 vote

Answer:

1000

Explanation:

User Erik Thysell
by
6.4k points
7 votes

Answer:

$25,305.32

Explanation:

6944*0.0339 = 235.40

235.40 * 6 * 13 = 18361.32

18361.32 + 6944 = 25305.32

User DelphiNewbie
by
6.9k points
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