Thursday, July 14, 2011

Word Problem> A $6,000 investment is deposited in a local bank where interest is compounded quarterly at a rat?

Word Problem> A $6,000 investment is deposited in a local bank where interest is compounded quarterly at a rate of 7%. Find the amount in the account after 4 years. Also, what is the amount of the compound interest earned during the 4 years?

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