You deposit $1,000 for 4 years at an interest rate 2.0%.If the interest is compounded quarterly ,how much money do you have afte
r the four years?
1 answer:
<span>A = P (1 + r/n)^<span>nt
A = 1000(1 + 0.02/4)^16
A = 1000(1.005)^16
A = 1083.07
answer
$1,083.07 </span></span><span>after the four years</span>
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