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A bank features a savings account that has an annual percentage rate of r=5.1% with interest compounded quarterly. Alba deposits $11,500 into the account. The
A bank features a savings account that has an annual percentage rate of r=5.1% with interest compounded quarterly. Alba deposits $11,500 into the account. The account balance can be modeled by the exponential formula S(t)=P(1+(r)/(n))^(nt), where S is the future value, P is the present value, r is the annual percentage rate, n is the number of times each year that the interest is compounded, and t is the time in years. (A) What values should be used for P, r, and n ? P=quad r=quad" os, "n=quad" os " (B) How much money will Alba have in the account in 10 years? Answer =$ Round answer to the nearest penny. (C) What is the annual percentage yield (APY) for
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