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30 July, 15:08

Suppose $2000 is deposited in an account paying 2.5% interest compounded quarterly. What will the account balance be after 12 years?

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  1. 30 July, 17:45
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    A=p (1+i/m) ^mn

    A=2000 (1+0.025/4) ^4*12

    A=2,697.2
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