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The APR of Kylee's savings account is 5.6% and the interest is compounded quarterly. If the principal in Kylee's savings account is $5800 for an entire year, what will…

The APR of Kylee's savings account is 5.6% and the interest is compounded quarterly. If the principal in Kylee's savings account is $5800 for an entire year, what will…
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The APR of Kylee's savings account is 5.6% and the interest is compounded quarterly. If the principal in Kylee's savings account is $5800 for an entire year, what will be the balance of her account after all the interest is paid?

User DanMatlin
by
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1 Answer

4 votes
A=5,800×(1+0.056÷4)^(4×1)
=6,131.68
User Emre Akman
by
7.6k points
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