anonymous
  • anonymous
An initial investment of $12,000 is appreciated for 8 years in an account that earns 12% interest, compounded quarterly. Find the amount of money in the account at the end of the period. I got 18,909.99. Is this right?
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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jamiebookeater
  • jamiebookeater
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anonymous
  • anonymous
\[12000(1+\frac{.12}{4})^{32}\]
anonymous
  • anonymous
that is not what i got. i got 1649.93
anonymous
  • anonymous
let me try again

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anonymous
  • anonymous
are you using a formula different from the one that i wrote?
anonymous
  • anonymous
i just did it using your formula and i got 30900.99, which is the correct answer

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