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11 May, 11:35

Find the balance in the account.

$1,000 principal earning 6.25%, compounded quarterly, after 7 years

a. $1,543.60

b. $1,528.63

c. $29,750.00

d. $1,114.64

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Answers (1)
  1. 11 May, 11:46
    0
    A=1,000 * (1+0.0625:4) ^ (4*7)

    A=1,543.60
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