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Title: An investment of P dollars is deposited in a savings account that is compounded quarterly with an ... Post by: EruIluvatar on Dec 9, 2021 An investment of P dollars is deposited in a savings account that is compounded quarterly with an annual interest rate of r, where r is expressed as a decimal. The amount of money A in the account after t years is given by A = P (1 + r/4)4t. Use this equation to determine the time it takes for an investment of $10,000 to increase to $12,000 if it is placed in an account that is compounded quarterly with an annual interest rate of 1.6%. Round to the nearest tenth.
▸ 2.9 years ▸ 9.6 years ▸ 45.7 years ▸ 11.4 years Title: An investment of P dollars is deposited in a savings account that is compounded quarterly with an ... Post by: Evolution on Dec 9, 2021 Content hidden
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