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Ramon needs to have $7230 in 12 years. How much money should he deposit in his account if he earns 3.25% interest compounded 4 times per year?

Ramon needs to have $7230 in 12 years. How much money should he deposit in his account if he earns 3.25% interest compounded 4 times per year?
asked 163k views
1 vote
Ramon needs to have $7230 in 12 years. How much money should he deposit in his account if he earns 3.25% interest compounded 4 times per year?

asked
User Tal Ohana
by
7.9k points

2 Answers

0 votes

Answer:

4902.84

Explanation:

That's correct

answered
User Pgl
by
8.0k points
5 votes
The answer would be $4,902.84
Would you like to know how I got that?
answered
User Stephen Lombardo
by
9.1k points
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