# O EXPONENTIAL AND LOGARITHMIC FUNCTIONSTry agai...MaxFinding the final amount in a word problem on compounde interestEspañolETry AgainSuppose that \$2000 is invested at a rate of 3.3%, compounded quarterly. Assuming that no withdrawals are made, find thtotal amount after 10 years.Do not round any intermediate computations, and round your answer to the nearest cent.?XAa

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Step 1

To find the amount present in bank after time t years we use the below formula:
where,
P = Principal or amount of money deposited
n = number of times compounded per year
r = annual interest rate
t = times in years
A = total amount after t years.

Step 2

Given:
Amount of money deposited, P = \$2000/-
Interest Rate, r = 3.3%
number of times compounded per year, N = 4
Time, t = 10 years

Step 3

Plugging these values in the a...

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