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 one year ago
Joshua opened a savings account 11 years ago. The interest rate was 2.9% compounded quarterly. If his balance is currently $1,437.34, how much did he originally deposit into the account?
 one year ago
Joshua opened a savings account 11 years ago. The interest rate was 2.9% compounded quarterly. If his balance is currently $1,437.34, how much did he originally deposit into the account?

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heatherlambert2
 one year ago
Best ResponseYou've already chosen the best response.0$1,045.97 $1,089.72 $1,265.39 $1,396.83

roberman228
 one year ago
Best ResponseYou've already chosen the best response.0wait one sec i'll get it

heatherlambert2
 one year ago
Best ResponseYou've already chosen the best response.0Okay. Thank you!

roberman228
 one year ago
Best ResponseYou've already chosen the best response.0i'm not completely sure if this is correct

roberman228
 one year ago
Best ResponseYou've already chosen the best response.0first i would take each number and multiply by 2.9

roberman228
 one year ago
Best ResponseYou've already chosen the best response.0i would say that the answer is 1,265.39

heatherlambert2
 one year ago
Best ResponseYou've already chosen the best response.0Well, I did 1437.34=p(1+0.00725)^11 1437.34=p(1.00725)^11 1437.34=p(1.08270474) then divide 1.08270474 from both sides and I got p=1327.55 and that isn't one of the answers.

heatherlambert2
 one year ago
Best ResponseYou've already chosen the best response.0I got 0.00725 by dividing 0.029 by 4 because it is compounded quarterly.
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