Question

Asked Oct 10, 2019

Find the accumulated amount *A* if the principal *P* is invested at the interest rate of *r*/year for *t* years. (Use a 365-day year. Round your answer to the nearest cent.)

P = $43,000, r = 7.75%, t = 9,

compounded quarterlyStep 1

Given values:

Step 2

Formula for accumulated amount is:

Step 3

Putting the values in ab...

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