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Jeff deposited $6000 into a savings account for which interest is compounded quarterly at a rate of 3.3%. How much interest will he earn after 77 years? *
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3 votes
Jeff deposited $6000 into a savings account for which interest is compounded quarterly at a rate of 3.3%. How much interest will he earn after 77 years? *

User Darcy Rayner
by
5.3k points

2 Answers

1 vote

Answer: 69364.41

Explanation:

6000(1 + 0.00825)^308= 75364.409332

75364.409332- 6000= 69364.409332

User BobbyGopnik
by
5.5k points
2 votes

Answer:

140,000

Explanation:

User Domas Poliakas
by
5.8k points
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