Compound Interest with Quarterly Compounding Over 2 Years
Compound Interest with Quarterly Compounding Over 2 Years
Secondary 3
Ariel invested \(\$5000\) in an investment fund that pays a compounded interest rate of \(2\%\) per annum.
Find the amount of money in the fund after the end of \(2\) years if this amount is compounded quarterly.
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Answer:\(\$5\,203.54\).
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