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a. An account with monthly​ compounding, an APR of ​4%, and an initial deposit of ​6000$​, after 3 years

 Oct 11, 2022
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FV ==6,000 x [1 + 0.04/12]^(3*12)

 

FV ==6,000 x [1 + 0.0033333]^36

 

FV ==6,000 x  1.1272718745179

 

FV==$6,763.63 - FV of 6,000 at 4% componded monthly for 3 years.

 Oct 12, 2022

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