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2 years ago

10

Frank deposited $100 into an account that earns 4% interest which is compounded 4 times per year. how much money will Frank have

in his account in 3 years

1 answer:

Gekata [30.6K]2 years ago

3 0

A = P( 1 + r/n)^(nt)
A = 100(1 + .04/4)^12
A = 100(1.01)^12
A = 112.68

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