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Mei deposited $400 into her savings account, which earns 5% per year. The interest is compounded quarterly. What will her balance be after 3 months?

 Mar 5, 2021
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interest per quarter in decimal form =  .05/4

after ONE quarter (3 months)

    400 ( 1 + .05/4) =  $ ............

 Mar 5, 2021

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