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You invest an initial $100 in an account that has an annual interest rate of 3%, compounded quarterly. How much money will you have in the account after 20 years? Round your answer to the nearest whole number.
A) 190
B) 200
C) 210
D) 182
Please Answer!

Respuesta :

beebeecher

Answer:

D) 182

Step-by-step explanation:

you have to calculate the three percent based on new total yearly.

year one:103

Year two: 106.09

Year three: 109.2727

and all the way up to twenty years, Hopefully this helps!

I took the test and got it right.

kapoorprachi783

I will have $182 in the account after 20 years.

The answer is option D.

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