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kimdre10
Group Title
If you invest $25,000 in an account that gets 12% annual interest
compounded quarterly, how much would you have in 10 years.
 one year ago
 one year ago
kimdre10 Group Title
If you invest $25,000 in an account that gets 12% annual interest compounded quarterly, how much would you have in 10 years.
 one year ago
 one year ago

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cwrw238 Group TitleBest ResponseYou've already chosen the best response.1
start again!: after 10 years amount = 25000(1 + (0.12)/4)^(10*4)
 one year ago

kimdre10 Group TitleBest ResponseYou've already chosen the best response.0
okay.. so what would that be ?
 one year ago

cwrw238 Group TitleBest ResponseYou've already chosen the best response.1
this simplifies to 25000(1.03)^40  you can compute that on your calculator
 one year ago

cwrw238 Group TitleBest ResponseYou've already chosen the best response.1
you should get 81,550.94 dollars
 one year ago

cwrw238 Group TitleBest ResponseYou've already chosen the best response.1
the general formular is A = P(1 + N/r)^(Nn) where P = principal (starting amount), r = annual rate, N = number of times per year the interest is compounded, and n = number of years
 one year ago

kimdre10 Group TitleBest ResponseYou've already chosen the best response.0
okay so whats does it look like all finished?>
 one year ago

cwrw238 Group TitleBest ResponseYou've already chosen the best response.1
well thats it the amount after 10 years is 81,550.94  pretty good rate of interest
 one year ago
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