Craig invests $200 into an account with a 2.7% interest rate that is compounded quarterly. How much money will he have in this account if he keeps it for 10 years? Round your answer to the nearest dollar.

asked Feb 18, 2024 194k views

5 votes

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4 votes

Answer:

$262

Explanation:

F = P(1 + r/n)^(nt)

F = 200(1 + 0.027/4)^(4 × 10)

F = 261.75...

Answer: $262

Nimish Goel answered Feb 24, 2024

8.8k points

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