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28 January, 15:25

Suppose that when your friend was born, your friend's parents deposited $2000 in an account paying 3.8 interest compounded quarterly. What will the account balance be after 14 years?

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  1. 28 January, 15:35
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    A=2,000 * (1+0.038:4) ^ (4*14)

    A=3,396.13
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