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An amount of $2,535.00 is deposited in a bank paying annual interest rate of 5.3% compounded quarterly find the balance after 3 years
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An amount of $2,535.00 is deposited in a bank paying annual interest rate of 5.3% compounded quarterly find the balance after 3 years

An amount of $2,535.00 is deposited in a bank paying annual interest rate of 5.3% compounded-example-1
User Zulu Z
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2 Answers

2 votes

Answer:

2968.78

Explanation:

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User Neoscribe
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5.3% of $2,535.00 = $134.35

$134.35 per year x 3 years = $406.05

$2,535.00 + $406.05 = $2,941.05

Answer : $2,941.05
User Robbie Dc
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