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13 August, 19:16

If you invest $1500 in at an interest rate of 7% for 5 years and the interest is compounded quarterly, how much money will you have after the 5 years. Round your answer to the nearest cent.

Not sure if its Interest Compounded k Times per Year formula or Interest Compounded continuously formula

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  1. 13 August, 19:39
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    100%+7%=107% 1.07³x1.07²x1500=2103.83
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