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OpenStudy (mackenzie2013):
Find the amount in an account if $45,050 is invested at 7.001% compounded quarterly, for 12 years and 3 months.
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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
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