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25 May, 04:52

Eddie deposited $1200 into an account that earns 3% interest compounded 2 times per year. How much money will Eddie have in his account after 7 years? Round to the nearest cent.

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  1. 25 May, 05:29
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    A=p (1+i/m) ^mn

    A=1,200 * (1+0.03:2) ^ (2*7)

    A=1,478.11
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