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25 February, 16:48

Brenda invests $4,848 in a savings account with a fix annual interest rate of 5% compounded 2 times per year. what will the account balance be after 6 years?

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  1. 25 February, 17:01
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    A = P (1 + rt)

    A = 4,848 (1+.05*6)

    A=6302.4
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