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Fiesta28 [93]
2 years ago
7

You deposit $200 every quarter for 12 years into a sinking fund that pays 2.25% interest compounded annually. What is the future

value of your fund?
Mathematics
1 answer:
Aleks04 [339]2 years ago
4 0

The  future value of your fund if compounded annually is $261.21

<h3>Compound interest</h3>

The formula for calculating the compound interest is expressed as

P(t) = P0(1+r)^t

where

P0 = $200

rate r = 2.25% = 0.0225

time t = 12 years

Substitute

p(12) = 200(1+0.0225)^12

P(12) = 200(1.0225)^12

P(12) = 261.21

Hence the  future value of your fund if compounded annually is $261.21

Learn more on compound interest here: brainly.com/question/24924853

#SPJ1

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Step-by-step explanation:

Your question isn't complete but let's help out by giving some values to the question.

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