# MATH

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What wold be the amount of coumpound interest on \$8,000 invested for one year at 6%,compounded quaterly? Round your answer to the nearest dollar.

• MATH -

6/4 = 1.5 percent every three months
1.015^4 = 1.0614
or 6.14 percent in a year
8,000 * .0614 = \$491

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