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    Exam 5: Exponential and Logarithmic Functions
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    If $2000 Is Invested for 3 Years at 8% Compounded
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If $2000 Is Invested for 3 Years at 8% Compounded

Question 243

Question 243

Essay

If $2000 is invested for 3 years at 8% compounded quarterly,find
(a)the compound amount and
(b)the compound interest.

Correct Answer:

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(a)$2536.4...

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