OpenStudy (mackenzie2013):

Find the amount in an account if $45,050 is invested at 7.001% compounded quarterly, for 12 years and 3 months.

3 years ago
OpenStudy (amistre64):

well, every 12/4 months is one compounding period ... 4 periods a year, for 12 year, plus an extra 1 is 49 compounding periods in total B(1+r/4)^(49) should suffice

3 years ago
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