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Using the Formula A=P(1+rn)ntA = P \left( 1 + \frac { r } { n } \right) ^ { n t }

Question 26

Short Answer

Using the formula A=P(1+rn)ntA = P \left( 1 + \frac { r } { n } \right) ^ { n t } , find the interest on an investment of $1200, at an interest rate of 12% for 5 years, if the interest is compounded quarterly.

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