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3 years ago

10

Jennifer deposits $1,000 into an account that is compounded monthly for 4 years. The account earns 7% interest. What is the endi

ng balance in the account at the end of the 4 years (assuming no new deposits or withdrawals)?
SHOW THE WORK PLEASE

1 answer:

TEA [102]3 years ago

7 0

Answer:

1000( 1 + 7/100)^4 = 1310.79601 which is 1311

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