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Suppose you invest $250 in an account that pays 2.4% compounded quarterly. After 30 months, how much is in your account?
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2 votes
Suppose you invest $250 in an account that pays 2.4% compounded quarterly. After 30 months, how much is in your account?

User Olivier Sohn
by
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1 Answer

7 votes
I = Prt
I = (250)(0.024)(2.5)
I = 15
$250 + $15
$265
User Lachy
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7.8k points
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