isabellafortner4 isabellafortner4

03-11-2020
Mathematics

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An amount of $2,535.00 is deposited in a bank paying annual interest rate of 5.3% compounded quarterly find the balance after 3 years

An amount of 253500 is deposited in a bank paying annual interest rate of 53 compounded quarterly find the balance after 3 years class=

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felixa4389 felixa4389

03-11-2020

5.3% of $2,535.00 = $134.35

$134.35 per year x 3 years = $406.05

$2,535.00 + $406.05 = $2,941.05

Answer : $2,941.05

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