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Yusef deposits $50 into a savings account that pays 3.25% interest compounded quarterly. The amount, A, in his account can be determined by the formula
Yusef deposits $50 into a savings account that pays 3.25% interest compounded quarterly. The amount, A, in his account can be determined by the formula A=P(1+nr)nt, where P is the initial amount invested, r is the interest rate, n is the number of times per year the money is compounded, and t is the number of years for which the money is invested. What will his investment be worth in 12 years, if he makes no other deposits or withdrawals
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