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OpenStudy (anonymous):
If 1000 is invested at an annual interest rate of 8% compounded quarterly, how much is available after 12 years to the nearest cent?
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OpenStudy (anonymous):
\[M=1000*(1+0.08)^{12.4-1}\] I'm not sure about this -1 but I'm thinking of it because of "the nearest cent" in the problem, cause we can get to 12 years bot not to the date of compound. M=37232.01
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