Suppose $1,500 is invested at an annual interest rate of 8 percent compounded quarterly. Compute the balance after 12 years. O $3,780.61

Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
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Suppose $1,500 is invested at an annual interest rate of 8 percent compounded quarterly. Compute the balance after 12 years.
O $3,780.61
O $3,820.61
O $3,880.61
O $3,890.61
Transcribed Image Text:Suppose $1,500 is invested at an annual interest rate of 8 percent compounded quarterly. Compute the balance after 12 years. O $3,780.61 O $3,820.61 O $3,880.61 O $3,890.61
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