# Assume that we invest \$4000 fo

Oct 16th, 2015
Anonymous
Category:
Engineering
Price: \$5 USD

Question description

Assume that we invest \$4000 for one year in a savings account that pays an APR of 10% compounded quarterly. Make a table to show how much is in the account at the end of each quarter. (Calculate the interest and compound it each quarter rather than using the compound interest formula.) Use your answer to determine how much total interest the account has earned after one year. (Round your answer to the nearest cent.)

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