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29 December, 08:01

Jim opened an account with $400. The account pays 3 percent quarterly. How much is in the account at the end of 2 years? Round to the nearest dollar.

Use the compound interest formula, the formula A = p (1 + r/n) ^nt

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  1. 29 December, 08:38
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    A=400 * (1+0.03:4) ^ (4*2)

    A=424.64
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