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If $3800 is invested in a savings account for which interest is compounded quarterly, and if the $3800 turns into $4300 in 2 years, what is the interest rate of the savings account?
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If $3800 is invested in a savings account for which interest is compounded

quarterly, and if the $3800 turns into $4300 in 2 years, what is the interest
rate of the savings account?

User Haughtonomous
by
7.8k points

1 Answer

2 votes

$125 per quarter, if quarter means every 3 months.

User Alexandr Zarubkin
by
8.4k points
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