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26 August, 09:51

Determine the amount of interest earned on a $100,000 investment if it is invested at 5.2% annual interest compounded quarterly for 12 years

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  1. 26 August, 10:08
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    A = p (1+r/n) ^nt = 100,000 (1+.052/4) ^ (12*4) = $185,888.87

    Interest is $85,888.87
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