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5 July, 12:58

Carl deposited $1220 in a bank that pays 9% interest, compounded monthly. Find the amount he will have at the end of 3 years.

a. $3431.45

b. $1596.55

c. $1549.40

d. $1334.44

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  1. 5 July, 13:19
    0
    A=p (1+I/k) ^kn

    A=1,220 * (1+0.09:12) ^ (12*3)

    A=1,596.55
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