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March 31, 2015

Homework Help: math

Posted by lynn on Saturday, May 12, 2012 at 7:14pm.

Hello, I'm having a hard time fingering our this question. Not really sure what formula to use. Thanks in advance!

For a five year period, Ned deposited $800 each quarter into an account paying 5.6% annual interest compounded quarterly.

(a) How much money was in the account at the end of 5 years?

(b) How much interest was earned during the 5 year period?

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