Question 16 5 pt For a starting dollar amount of $8,000 and an annual interest rate of 3.24% compounded quarterly, use the Compound Interest Formula to find the final dollar AMOUNT after 5 YEARS. A = P+ (1+)"*) Compound Interest Formula Section 4.7 O $9,406.41 O $9,382.75 O $9.400.75 O $9.394.26 O $9,404.83 • Previous Next Quiz saved at 10:37pm Submit Qui Address

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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Question 16
5 pt
For a starting dollar amount of $8,000 and an annual interest rate of 3.24% compounded quarterly, use the Compound Interest Formula to find the final dollar
AMOUNT after 5 YEARS.
A = P+ (1+) Compound Interest Formula
Section 4.7
O $9,406.41
O $9,382.75
O $9.400.75
O $9,394.26
O $9,404.83
• Previous
Next
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Transcribed Image Text:Question 16 5 pt For a starting dollar amount of $8,000 and an annual interest rate of 3.24% compounded quarterly, use the Compound Interest Formula to find the final dollar AMOUNT after 5 YEARS. A = P+ (1+) Compound Interest Formula Section 4.7 O $9,406.41 O $9,382.75 O $9.400.75 O $9,394.26 O $9,404.83 • Previous Next Quiz saved at 10:37pm Submit Qui Address
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