$11,000 is invested at an APR of 2.2% for 4 years. (Use the compound interest formula to determine the accumulated ba annually.) O $243.50 $11,742.09

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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$11,000 is invested at an APR of 2.2% for 4 years. (Use the compound interest formula to determine the accumulated balance after the stated period. Assume that interest is compounded
annually.)
O $243.50
O $11,742.09
$968.00
O $12,000.42
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> A Moving to another question will save this response.
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4/29
Transcribed Image Text:$11,000 is invested at an APR of 2.2% for 4 years. (Use the compound interest formula to determine the accumulated balance after the stated period. Assume that interest is compounded annually.) O $243.50 O $11,742.09 $968.00 O $12,000.42 «< Question 11 of 16 > A Moving to another question will save this response. 45 4/29
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