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Suppose that when your friend was​ born, your​ friend's parents deposited ​$6000 in an account paying 4.2​% interest compounded quarterly. What will the account balance be …

Suppose that when your friend was​ born, your​ friend's parents deposited ​$6000 in an account paying 4.2​% interest compounded quarterly. What will the account balance be …
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2 votes
Suppose that when your friend was​ born, your​ friend's parents deposited ​$6000 in an account paying 4.2​% interest compounded quarterly. What will the account balance be after 19 ​years?

asked
User Dwayne Robinson
by
7.7k points

2 Answers

4 votes

Answer:

$13,523.10

Explanation:

answered
User Serhii Yakovenko
by
8.5k points
2 votes

Answer:

In 19 years you will have $13,523.10

Explanation:

Formula for compound interest:

Suppose that when your friend was​ born, your​ friend's parents deposited ​$6000 in-example-1
answered
User Thomas Cook
by
7.7k points
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