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docker41 [41]
3 years ago
11

Find the amount in a account where $200 is invested at 3.5% compounded quarterly for a period of 3 years.

Mathematics
1 answer:
AveGali [126]3 years ago
6 0

Answer:

$222.04

Step-by-step explanation:

Use the compound amount formula A = P(1 + r/n)^(nt), where n is the number of times interest is compounded per year, t is the number of years and r is the interest rate as a decimal fraction.

Here, A = ($200)(1 + 0.035/4)^(4*3), or

             = ($200)(1.00875)^(12)  =  $200(1.11) = $222.04

The compound amout after 4 years (12 compounds) will be $222.04.

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<em>Answer:</em> <em>A</em>   \overline{TM}\cong \overline{OR}

Step-by-step explanation:

The HL Theorem states that if the hypotenuse and leg of one right triangle are congruent to the hypotenuse and leg of another right triangle, then the two triangles are congruent.

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