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You deposit $9,800 in a money-market account that pays an annual interest rate of 5.8%. The interest is compounded quarterly. How much money will you have after 3 years?

You deposit $9,800 in a money-market account that pays an annual interest rate of 5.8%. The interest is compounded quarterly. How much money will you have after 3 years?
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2 votes
You deposit $9,800 in a money-market account that pays an annual interest rate of 5.8%. The interest is compounded quarterly. How much money will you have after 3 years?

asked
User Ucron
by
8.2k points

2 Answers

1 vote
$16,620.80 that is what I got
answered
User Arshpreet
by
9.0k points
4 votes
$16,620.80

Hope this helped!
answered
User Gerald Thibault
by
8.5k points
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