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(a) find and (b) interpret the future value of the given amount. $5,200 at 6 3/4% compounded quarterly for 8 1/2 years

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3 votes

Answer:

(a)


5200 {(1 + (.0675)/(4)) }^(4 * 8.5) = 9185.46

(b)

If I invest $5,200 at 6.75 percent compounded quarterly for 8 1/2 years, I will have $9,185.46.

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