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Consider the future value of the following. $627 at 5.5% compounded quarterly for 4 years Give the future value for compound interest formula, where
Consider the future value of the following. $627 at 5.5% compounded quarterly for 4 years Give the future value for compound interest formula, where A is the future value in dollars, P is the present value in dollars, r is the annual interest rate as a decimal, n is the number of compounding periods each year, and t is the time in years. A = Determine the following values. P = T = n = t = Find the future value, using the future value formula and a calculator. (Round your answer to the nearest cent.)
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