If $5000 is invested at a rate of 3% interest compounded quarterly, what is the value of the investment in 5 years?

Question

If $5000 is invested at a rate of 3% interest compounded quarterly, what is the value of the investment in 5 years?

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Adalynn 2 weeks 2021-09-09T18:00:15+00:00 1 Answer 0

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    2021-09-09T18:01:41+00:00

    Answer: $3000

    Step-by-step explanation:

    $5000 x .03 = $150

    $150 x 4(quarters) = $600

    $600 x 5(years) = $3000

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