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23 June, 12:09

If Ricky borrowed $4600 at a rate of 16% interest per year compounded quarterly,

calculate the amount due at the end of 8 years if the interest is compounded

quarterly.

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  1. 23 June, 16:05
    0
    Answer: $16137.07

    Step-by-step explanation:

    A = p (1+r/n) ^nt

    A = 4600 (1+0.16/4) ^4x8

    A = 16137.07
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