3. If $15,000 is invested at 3% compounded quarterly, what is the amount after 7 years? A = 15000 ((+ 0.0 %3D A = $18490. 68 %3D

Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
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3. If $15,000 is invested at 3% compounded quarterly, what is the amount after 7
years?
A = 15000 (1+
0.03 47)
%3D
4.
A = $18490.68
Transcribed Image Text:3. If $15,000 is invested at 3% compounded quarterly, what is the amount after 7 years? A = 15000 (1+ 0.03 47) %3D 4. A = $18490.68
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