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Alja [10]
3 years ago
14

Na

Mathematics
1 answer:
Bumek [7]3 years ago
8 0

Answer:

6,874.70

Step-by-step explanation:

You are going to want to use the compound interest formula, which is shown below.

P(1+\frac{r}{n} )^{nt}

<em>P = initial balance </em>

<em>r = interest rate </em>

<em>n = number of times compounded annually </em>

<em>t = time </em>

Now lets plug in the values into the equation.

5,000(1+\frac{0.04}{4})^{8(4)} = 6,874.70

Your answer is 6,874.70.

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