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WORTH ALOT. Find the amount that results from the investment. 14) $480 invested at 7% compounded quarterly after a period of 9 years
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Respuesta :

mhanifa

Answer:

  • $896.36

Step-by-step explanation:

  • Principal = $480
  • Interest rate = 7% compounded
  • Compound number = 4 per year
  • Time = 9 years

Final amount is:

  • 480*(1 + 0.07/4)^(9*4) =
  • 480(1.0175)^36 =
  • $896.36

Answer:

$896.36

Step-by-step explanation:

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