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Mathematics

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Use the appropriate compound interest formula to compute the balance in the account after the stated period of time $1400 is invested for 5 years with an APR of 6% and quarterly compounding. The balance in the account after 5 years is :

Answer :

VALMCGO VALMCGO

Answer:

$ 1,885.60

1400(1+0.06/4)^4(5)

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