You deposit $7,900 in an account that pays 1.29% annual interest. Find the balance after 5 years when theinterest is compounded
quarterly.
•$10,293.78
•$8,132.89
•$9,378.23
•$8,425.47
1 answer:
Answer:
8,425.47
Step-by-step explanation:
Total Principal: $7,900.00
Total Interest: $525.47
interest rate of 1.29% compound quarterly is equivalent to annual rate of 1.296%
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