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Your friend deposits $8500 in an investment account that earns 2.8% annual interest. What is the balance after 8 years when the interest is compounded quarterly? 1

Your friend deposits $8500 in an investment account that earns 2.8% annual interest. What is the balance after 8 years when the interest is compounded quarterly? 1
asked 29.8k views
13 votes
Your friend deposits $8500 in an investment account that earns 2.8% annual interest. What is the balance after 8 years when the interest is compounded quarterly? 1

asked
User Bancer
by
7.4k points

1 Answer

5 votes

I believe the balance would be $10,601.42

Hopefully that is the right answer

answered
User QuakeCore
by
8.3k points
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