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Walters savings account has a balance of $273. After 5 years, what will the amount of interest be at 5% compounded quarterly?
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Walters savings account has a balance of $273. After 5 years, what will the amount of interest be at 5% compounded quarterly?
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May 28, 2015
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Walters savings account has a balance of $273. After 5 years, what will the amount of interest be at 5% compounded quarterly?
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Loftx
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The answer is $350
The formula is as follows:
P: Principal Amount : $273
r: Rate of interest: 5%
n: number of times the interest is compounded: 4 (Since Quarterly)
t: number of years : 5
John David Five
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Jun 1, 2015
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John David Five
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