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OpenStudy (anonymous):
A client wins $500,000 in the lottery, he wants to invest 6% compounded interest quarterly for 5 years, what would that be?
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OpenStudy (anonymous):
since 6% is quarterly interest, the yearly interest is 6%*4, and it is compounded interest, therefore, after 5 years, total return will be 500000*(1+6%*4)^5=1465812.531
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