Question:
The amount of money, A(t), in a savings account that pays 3%
Last updated: 7/17/2022
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The amount of money, A(t), in a savings account that pays 3% interest, compounded quarterly for t years, with an initial investment of P dollars, is given by At =P[1+ 0.03/4)^4t If $5000 is invested at 3%, compounded quarterly, how much will the investment be worth after 6 years? How much money will there be in the account at the end of 6 years?