Eddie deposited $1200 into an account that earns 3% interest compounded 4 times per year. How much money will Eddie have in his account after 5 years? Round to the nearest cent.

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asked Oct 22, 2018 218k views

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Eddie deposited $1200 into an account that earns 3% interest compounded 4 times per year. How much money will Eddie have in his account after 5 years? Round to the nearest cent.

Mathematics
high-school

Sadheesh asked

by Sadheesh

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1 Answer

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A=1,200×(1+0.03÷4)^(4×5)
A=1,393.42

Renata answered Oct 29, 2018

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