keira009
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How much would you have in your account if you invested $1000 at an interest rate of 8% compounded quarterly for 20 years.​

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JanaFaithSlay

Answer:

A = $4,926.80

Step-by-step explanation:

First, convert R as a percent to r as a decimal

r = R/100

r = 8/100

r = 0.08 rate per year,

Then solve the equation for A

A = P(1 + r/n)nt

A = 1,000.00(1 + 0.08/12)(12)(20)

A = 1,000.00(1 + 0.006666667)(240)

A = $4,926.80

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