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To what amount will $8000 growing if it is invested for 12 years at 6% compounded quarterly​
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5 votes
To what amount will $8000 growing if it is invested for 12 years at 6% compounded quarterly​

User Tasegula
by
3.1k points

1 Answer

7 votes

Answer:

The final balance is $16,406.01.

The total compound interest is $8,406.01

Explanation:

take the initial balance and multiply that by the interest then take 12 and multiply that times the previous answer.

User Rahul K
by
3.2k points
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