The account balance is approximately $. Simplify your answer. Type an integer or decimal rounded to two decimal places as needed.)

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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principal, r is interest rate, n is number of compounding periods per year, t is time, in years, and A is account balance.
Use the compound-interest formula to find the account balance A, where P
P
compounded
1
$55,716 4-%
Quarterly
85
The account balance is approximately $
(Simplify your answer. Type an integer or decimal rounded to two decimal places as needed.)
esc
80
F2
F3
F4
F10
FII
F12
@
2#
$
%
&
*
2
4
5
6
7
Q
W
E
R
Y
P
Transcribed Image Text:principal, r is interest rate, n is number of compounding periods per year, t is time, in years, and A is account balance. Use the compound-interest formula to find the account balance A, where P P compounded 1 $55,716 4-% Quarterly 85 The account balance is approximately $ (Simplify your answer. Type an integer or decimal rounded to two decimal places as needed.) esc 80 F2 F3 F4 F10 FII F12 @ 2# $ % & * 2 4 5 6 7 Q W E R Y P
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