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May 22, 2013

# Homework Help: math

Posted by Gloria on Monday, June 11, 2012 at 9:06am.

What is the value of an initial investment of \$2300 after twelve years if the interest accrued is compounded quarterly, and the annual rate is 6.5%?

• math - Steve, Monday, June 11, 2012 at 11:20am

23000(1 + .065/4)^(4*12) = 49860.27

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