If $300 is invested at a rate of 6% per year and is compounded quarterly, how much will the investment be worth in 12 years? Use the compound interest formula A = P O $145.23 O $358.69 O $613.04 O $618.41 nt A=P(1+1).
If $300 is invested at a rate of 6% per year and is compounded quarterly, how much will the investment be worth in 12 years? Use the compound interest formula A = P O $145.23 O $358.69 O $613.04 O $618.41 nt A=P(1+1).
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 62SE: Rachael deposits $1500 into a retirement fund each year. The fund earns 8.2% annual interest,...
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If $300 is invested at a rate of 6% per year and is compounded quarterly, how much will the investment be worth in 12 years?
Transcribed Image Text:If $300 is invested at a rate of 6% per year and is compounded quarterly, how much will the investment be worth in 12 years?
Use the compound interest formula A = P
O $145.23
O $358.69
O $613.04
O $618.41
nt
A=P(1+1).
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