. An investment of $2950 earns 6.50% interest per year. Calculate the value of the investment when the interest is compounded quarterly for 5 years.

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 22T
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. An investment of $2950 earns 6.50% interest per year. Calculate the value of the investment
when the interest is compounded quarterly for 5 years.
Transcribed Image Text:. An investment of $2950 earns 6.50% interest per year. Calculate the value of the investment when the interest is compounded quarterly for 5 years.
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