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Eva plus $4500 into a savings account that had a 1.25 inches rate if the bank compounds quarterly and Ava leave the money in the account for 15 years what is your total investment

Respuesta :

humbertorayo

Answer:

$5426.45

Step-by-step explanation:

Using the formula

APY= P(1+[tex]\frac{r}{n}[/tex][tex])^{n*t}[/tex]

P - principal

r - interest rate

n - number of compound periods

t- time

APY = 4500(1+.0125/4)^60 = $5426.45

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