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Elizabeth deposits $910 into an account. For the first two years, money in the account earns 5.6% annual interest that is compounded quarterly. After that,
Elizabeth deposits $910 into an account. For the first two years, money in the account earns 5.6% annual interest that is compounded quarterly. After that, the interest rate jumps to 7.6% annual interest, but the interest is still compounded quarterly. How much would be in the account at the end of 4 years? Round the monthly interest rate to 3 decimal places. $910(1.014)(1.019) $910(1.056)8(1.076) $910(1.056)-(1.076)2 $910(1.014)(1.019)2
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