If $4000 is borrowed at a rate of 3.75% interest per year, compounded quarterly,

Algebra
Tutor: None Selected Time limit: 1 Day

If $4000 is borrowed at a rate of 3.75% interest per year, compounded quarterly, find the amount due at the end of the given number of years. (Round your answers to the nearest cent.)

(a)      5 years
 

(b)      7 years
 

(c)      9 years
Apr 4th, 2015

a) $4,000*(1+0.009375)^20=$4,820.71

b) $4,000*(1+0.009375)^28=$5,194.35

c) $4,000*(1+0.009375)^36=$5,596.95

Apr 4th, 2015

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Apr 4th, 2015
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Apr 4th, 2015
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