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OpenStudy (angiepangie0726):
I will fan and medal, really need some help An investment is advertised as returning 3.1% every 3 months (quarterly), compounded quarterly. If $30,000 is invested, the growth can be modeled by the equation A(t) = 30,000(1.031)4t. What is the equivalent annual growth rate for this investment (rounded to the nearest hundredth of a percent) and what is it worth (rounded to the nearest thousand dollar) after 15 years?
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