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Posted by mark on Sunday, May 22, 2011 at 7:09pm.

what will a deposit of 4500 be worth if left in the bank for 5 years at 8% compounded quarterly?

20 time periods at r = .08/4 = .02 so 4500 (1.02)^20 = 4500 (1.4859) =6686.76

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