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Frank deposited $100 into an account that earns 4% interest which is compounded 4 times per year how much will frank have in his account in 3 years

Frank deposited $100 into an account that earns 4% interest which is compounded 4 times per year how much will frank have in his account in 3 years
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3 votes
Frank deposited $100 into an account that earns 4% interest which is compounded 4 times per year how much will frank have in his account in 3 years

asked
User Naing Linn Aung
by
7.8k points

1 Answer

4 votes
A=100×(1+0.04÷4)^(4×3)
A=112.68
answered
User Akshay Vaghasiya
by
7.9k points
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