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the principal represents an amount of money deposited in a saving account subject interest at the given rate principal 4000 rate 0.2% componded quarterly time 2 years

 

 

find how much money there will be in the account after given numbers

 

 

 

a find how amount of money in account after 2 years $

b the amount of interest earned is $

 Jul 9, 2023
edited by Guest  Jul 9, 2023
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N=2*4; R=0.002/4;PV=4000; FV=PV*(1 + R)^N

 

a -  FV =$ 4016.03 - balance of the account after 2 years

 

b - $4016.03  -  $4000 =$16.03 - total interest earned  after 2 years.

 Jul 10, 2023

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