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You deposit $5,000 in an account that pays 5% annual interest compounded quarterly. what is the balance after 3 years?

You deposit $5,000 in an account that pays 5% annual interest compounded quarterly. what is the balance after 3 years?
asked 33.9k views
1 vote
you deposit $5,000 in an account that pays 5% annual interest compounded quarterly. what is the balance after 3 years?

asked
User Mlemay
by
7.6k points

1 Answer

6 votes
B=PRT
5000*0.5*12= $30000
answered
User Albeee
by
7.9k points
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