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12-05-2020
Mathematics

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If $5000 is invested at a rate of 3% interest compounded quarterly, what is the value of the investment in 5 years?

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13-05-2020

Answer: $3000

Step-by-step explanation:

$5000 x .03 = $150

$150 x 4(quarters) = $600

$600 x 5(years) = $3000

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