Mitchell invested $4583 at 5.61% compounded quarterly. Calculate the accumulated value of the investment at the end of 4 years. Round to the nearest cent.

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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Mitchell invested $4583 at 5.61% compounded quarterly.
Calculate the accumulated value of the investment at the end of 4 years.
Round to the nearest cent.
Answer:
Transcribed Image Text:Mitchell invested $4583 at 5.61% compounded quarterly. Calculate the accumulated value of the investment at the end of 4 years. Round to the nearest cent. Answer:
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