$56,500 at 1% compounded quarterly for 3 years

asked May 9, 2023 44.9k views

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$56,500 at 1% compounded
quarterly for 3 years

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Answer:

Below

Explanation:

Quarterly interest = .01 / 4 = .0025

periods = 4 x 3 yrs = 12

FV = 56500(1 + .0025)^12 = $ 58218 . 50

Dergab answered May 16, 2023

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