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June made an initial deposit of $5000 in an account for her son. Assuming an interest rate of 7% compounded quarterly, how much will the account be worth in 11 years? Round to the nearest cent. Can someone help me with this problem?

  • math -

    Use the compound interest formula ...

    amount
    = 5000(1 + .07/4)^44
    = 5000(1.0175)^44
    = 10727.15

  • math -

    how much will i get

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