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Nadya [2.5K]
3 years ago
8

Alex invests $12,500 in a savings account that pays 5% interest compounded quarterly. Approximately how much money will he have

in the account after 10 years?
Mathematics
1 answer:
Gala2k [10]3 years ago
8 0
<span>A = P (1 + r/n)<span> (nt)
</span></span>A<span> = the future value of the investment</span>
P<span> = (the initial deposit or loan amount)</span>
r<span> = the annual interest rate (decimal)</span>
n<span> = the number of times that interest is compounded per year</span>
t<span> = the number of years the money is invested 
</span>
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