Find the balance of a bank account with an initial investment or principal of $1,500 that earns 3.2% interest compounded quarter
1 answer:
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Answer:
10
Step-by-step explanation:
Set up as a proportion:
, insert given values
, cross multiple
36*?=30*12
36*?=360, divide both sides by 36 to get the missing side (?) by itself
?=10