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OpenStudy (anonymous):
If $1000 is invested at a rate of 12% per year compounded quarterly, what is the amount in the account after one year?
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OpenStudy (anonymous):
calculate the "real" yearly percentage -1 + (1+percent/n)^n => -1 + (1+0.12/3)^3
OpenStudy (anonymous):
the real percentage is 12.4864%
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