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Math

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What would be the amount of compound interest on $8,000 invested for one year at 6%, compounded quarterly? Round your answer to the nearest dollar.

  • Math -

    6%/4 = x%
    $8,000./x%

  • Math -

    Amount = 8000(1 + .06/4)^4
    = 8490.91

  • Math -

    y=3x-3.5

  • Math -

    $491.00

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