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➷ b) 3500 x 1.008 = 3528
The first quarter's ending balance is $3528
c) (3500 x 1.008^2) - 3500 = 56.224
The second quarter's interest is $56.22
d) 3500 x 1.008^2 = 3556.224
The second quarter's ending balance is $3556.22
e) (3500 x 1.008^3) - 3500 = 84.673792
The third quarter's interest is $84.67
f) 3500 x 1.008^3 = 3584.673792
The third quarter's ending balance is $3584.67
g) (3500 x 1.008^4) - 3500 = 113.3511823
The fourth quarter's interest is $113.35
h) 3500 x 1.008^4 = 3613.351182
The balance at the end of the year is $3613.35
i) The total interest of the year is $113.35
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