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4 years ago

11

You deposit $250 in a bank account that offers compound interest at a rate of 5%, compounding quarterly. At the end of five year

s, your balance is:

1 answer:

andrew11 [14]4 years ago

6 0

5% compounded quarterly equals (1.0125)^4 -1=0.0509453369140625 or 5.09453369140625 % APR
250*(1.0125)^20=$320.51 at the end of 5 years
☺☺☺☺

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<h3><u>Question:</u></h3>

Name the property the equation illustrates

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B. Associative property of Multiplication

C. Associative Property of Addition

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<h3><u>Answer:</u></h3>

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<h3><u>Solution:</u></h3>

From given equation

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<h3><u>Associative property of Multiplication:</u></h3>

This property says that when we are multiplying it does not matter where you put the parenthesis

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Answer:

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Answer:

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