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zysi [14]
3 years ago
12

1. Francisco invested $5,000 into an account that earns 3% compounded quarterly. How many

Mathematics
1 answer:
andreev551 [17]3 years ago
6 0

Answer:

10,002.21

Step-by-step explanation:

1)4x5= 20 times

2) principal= 5000

interest rate per year= 3%

compounded times per year=4

time in years = 5

the formula is amt= p*(1+r/n)^(n*t)

thus

Amount = 5805.92

3) If time in years = 23.2

then

amount = 10,002.56

4) Principal = 5,000

interest rate per yr= 5.82%

Compounded times per year = 4

time in years =12

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