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24 August, 05:00

A deposit of $6000 is made in an account that earns 6% interest compounded quarterly. The balance in the account after n quarters is given by the sequence Find the balance in the account after five years. Round

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  1. 24 August, 06:39
    0
    A=p (1+i/m) ^mn

    A=6,000 * (1+0.06:4) ^ (20)

    =8,081.13
  2. 24 August, 06:43
    0
    Amount here is 6000

    interest 6% = 6/100 = (r/100) * 1/4

    time is 5 yrs

    solve this
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