You invest $6,600 into a savings account at Mountain America Credit Union which pays 1.8% annual interest compounded quarterly. How much interest will you earn after 3 years? A $89.50 B) $365.35 $6,689.50 $6,965.35

You invest $6,600 into a savings account at Mountain America Credit Union which pays 1.8% annual interest compounded quarterly. How much interest will you earn after 3 years? A $89.50 B) $365.35 $6,689.50 $6,965.35

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 1P

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Question

You invest $6,600 into a savings account at Mountain America Credit Union which pays 1.8% annual interest compounded
quarterly. How much interest will you earn after 3 years?
$89.50
$365.35
$6,689.50
$6,965.35

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