Calculate the amount of interest earned in 9 years on $12,000 deposited in an account paying 10% annual interest, compounded quarterly. (Round your answer to the nearest cent.) $4

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 69SGR
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Calculate the amount of interest earned in 9 years on $12,000 deposited in an account paying 10% annual interest, compounded quarterly.
(Round your answer to the nearest cent.)
Transcribed Image Text:Calculate the amount of interest earned in 9 years on $12,000 deposited in an account paying 10% annual interest, compounded quarterly. (Round your answer to the nearest cent.)
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