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Suppose you invest $250 in an account that pays 2.4% compounded quarterly. After 30 months, how much is in your account?

Suppose you invest $250 in an account that pays 2.4% compounded quarterly. After 30 months, how much is in your account?
asked 81.0k views
2 votes
Suppose you invest $250 in an account that pays 2.4% compounded quarterly. After 30 months, how much is in your account?

asked
User Olivier Sohn
by
8.3k points

1 Answer

7 votes
I = Prt
I = (250)(0.024)(2.5)
I = 15
$250 + $15
$265
answered
User Lachy
by
7.8k points
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