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tester [92]
3 years ago
5

Serena has $130 in her bank account . Her account is compounded quarterly for 2 years at a 9.4% interest rate . What is her tota

l investment after this time period ?
Mathematics
1 answer:
____ [38]3 years ago
7 0
\bf ~~~~~~ \textit{Compound Interest Earned Amount}
\\\\
A=P\left(1+\frac{r}{n}\right)^{nt}
\quad 
\begin{cases}
A=\textit{accumulated amount}\\
P=\textit{original amount deposited}\to &\$130\\
r=rate\to 9.4\%\to \frac{9.4}{100}\to &0.094\\
n=
\begin{array}{llll}
\textit{times it compounds per year}\\
\textit{quarterly, thus four}
\end{array}\to &4\\
t=years\to &2
\end{cases}
\\\\\\
A=130\left(1+\frac{0.094}{4}\right)^{4\cdot 2}\implies A=130(1.0235)^8
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