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A bank is offering a Super-Savers account with an annual interest rate of 4% compounded quarterly . Claire has $2000. She plans to deposit the
A bank is offering a Super-Savers account with an annual interest rate of 4% compounded quarterly.
- Claire has $2000. She plans to deposit the entire amount into a Super-Savers account for one year.
- Dana plans to open a Super-Savers account and make regular deposits of $500 at the end of each quarter.
- Edie plans to open a Super-Savers account and make regular deposits of $500 at the start of each quarter.
Determine the total interest earned by each investor by the end of their first year.
After one year, Claire will have earned [ Select ] ["$81.21", "$339.72", "$253.65", "$80.00"] in interest.
After one year, Dana will have earned [ Select ] ["$123.23", "$80.00", "$50.50", "$30.20"] in interest.
After one year, Edie will have earned [ Select ] ["$84.93", "$123.23", "$30.20", "$50.50"] in interest.
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