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Find the accumulated amount A, if the principal P is invested at an interest rate of r per year for t years.

P = $2500, r = 3%, t = 3, compounded quarterly

$ ?

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Julie

  1. A = P(1+r/n)^(n*t)
    = 2500(1+.03/4)^(4*3)
    = 2734.52

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    Steve

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