Math

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Find total amount in the compound intrest account.

$2000 is compounded quarterly at a rate of 8% for 6 years. (Round to nearest Hundereths as needed)

  • Math -

    amount = 2000(1.02)^24
    = ...

  • Math -

    so 48960?

  • Math -

    How did you possibly get that ???

    amount = 2000(1.02)^24
    = 2000(1.608437)
    = 3216.87

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