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A bank offers an investment account with an annual interest rate of 1.26% compounded quarterly. Chang invests $3500 into the account for 3 years. Answer
A bank offers an investment account with an annual interest rate of 1.26% compounded quarterly. Chang invests $3500 into the account for 3 years. Answer the questions below. Do not round any intermediate computations, and round your final answers to the nearest cen If necessary, refer to the list of financial formulas. (a) Assuming no withdrawals are made, how much money is in Chang's account after 3 years? $ (b) How much interest is earned on Chang's investment after 3 years? $
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