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27 April, 09:46

An investment of $6,530 earns interest at the rate of 4% and is compounded quarterly. What is the accumulated value of the investment at the end of 8 years?

a. $7,071.05

b. $7,659.97

c. $8,936.76

d. $8,978.36

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  1. 27 April, 13:33
    0
    A=p (1+I/k) ^ (k*n)

    A=6,530 * (1+0.04:4) ^ (4*8)

    A=8,978.36
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