Find the final value of 2000 invested at an interest rate of 3% compounded quarterly for 8 years
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In this question , n represent the large packages . And total number of packages =12.
So , total number of small packages=12-n
Cost of large packages=$7 and of small packages=$4.50 .
So total cost is the sum of cost of large packages and cost of small packages .
That is
And in the second part, n=8 .
Substituting 8 for n, we will get