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30 June, 09:54

Lea invests $8,333 in a savings account with a fixed annual interest rate of 8% compounded 2 times per year. what will be the balance after 12 years?

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  1. 30 June, 12:24
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    A = P (1 + rt)

    A = 8,333 (1+.08*24)

    A=24332.36
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