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March 24, 2017

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You deposit $1000 in an account at the Lifelong Trust Savings and Loan that pays 7% interest compounded quarterly. By how much will your deposit have grown after 4 years?

  • Math - ,

    You invest $10,000 in Rapid Growth Funds, which appreciate by 1% per year, with yields reinvested quarterly. By how much will your investment have grown after 6 years?

  • Math - ,

    for the deposit, use thsi as your equation:
    1000(1+.07)^4

    for the investment in RGF use this as your equation:
    10000(1+.01)^6

    Just plug them into a calulator to solve.

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