Assume that $804 is invested at a 6.7% annual rate, compounded quarterly.  Find the value of the investment after 9 years.  Round your answer to two decimal places.

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A: The explanation has been given in the attached file.

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A: Introduction: Compound interest is interest that is compounded at regular intervals on both…

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A: If you like the solution then please give it a thumbs up.. The Answer is:     Result = 23.45  It…

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A: Formula used:The future value formula:

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