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Alja [10]
3 years ago
12

Eddie deposited $1200 into an account that earns 3% interest compounded 2 times per year. How much money will Eddie have in his

account after 7 years? Round to the nearest cent.
Mathematics
1 answer:
nirvana33 [79]3 years ago
8 0
Total = Principal * (1+(rate/n))^n*years
Total = 1,200 * (1.015)^14
Total = 1,200 * <span><span><span>1.2317557307 </span> </span> </span>
<span>Total = 1,478.11</span>
Source:
http://www.1728.org/compint3.htm




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