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Devon deposits P dollars to open a savings account that earns 1.5% annual interest, compounded every four months. She makes no other deposits and no withdrawals.

Which of the following expressions represents the amount of money she would have in her account at the end of 6 years?

 Dec 5, 2014

Best Answer 

 #1
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$$i=0.015/3,\quad n=6*3=18\\

FV=P(1+i)^n$$

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 Dec 6, 2014
 #1
avatar+118608 
+5
Best Answer

$$i=0.015/3,\quad n=6*3=18\\

FV=P(1+i)^n$$

Melody Dec 6, 2014

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