Asked by Help
Find the ending balance in an account that opens with $5,000, earns 7.5% interest compounded quarterly, and is held for 5 years.
Answers
Answered by
Steve
5000(1+.075/4)^(5*4)
= 5000 * 1.01875<sup>20</sup>
= 5000 * 1.01875<sup>20</sup>
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