Ruth invests $10,000 in an account that earns 2.85% compounded quarterly. How much money will she have in that account after 30 years?

Question

Ruth invests $10,000 in an account that earns 2.85% compounded quarterly. How much money will she have in that account after 30 years?

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Ngọc Diệp 6 months 2021-08-12T14:56:56+00:00 1 Answers 5 views 0

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    2021-08-12T14:58:25+00:00

    Answer:

    18,550

    Step-by-step explanation:

    x/10,000 = 2.85/100

    Cross multiply

    100x = 28500

    Simplify

    x=285

    Multiply by 30

    285 x 30 = 8,550

    Add to  Original Investment

    28,550

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