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3 years ago

8

Pete Rool made deposits of $6,000 at the end of each quarter to Rote Bank, which pays 8% interest compounded quarterly. After 3

years, Pete made no more deposits. What would be the balance in the account 2 years later, from the last deposit?

1 answer:

Aleksandr [31]3 years ago

8 0

Prt i=prt
p=$6000 i=6000x8%x3yr
r=8% i=1440x2=2880
t=3yr

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