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1 vote
Calculate.

The amount to which $5,000 would grow in ten years at 6% compounded quarterly.

$ _____

User MockerTim
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1 Answer

3 votes

5000 x (1 + 0.06/4)^(4*10)

5000 x (1.015^40)

5000 x 1.814018409 = 9070.09 total after 10 years

9070.09 - 5000 - 4070.09 in interest

User Adri
by
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