Calculate the amount of interest earned in 9 years on $12,000 deposited in an account paying 10% annual interest, compounded quarterly. (Round your answer to the nearest cent.)
Calculate the amount of interest earned in 9 years on $12,000 deposited in an account paying 10% annual interest, compounded quarterly. (Round your answer to the nearest cent.)
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 26P
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Calculate the amount of interest earned in 9 years on $12,000 deposited in an account paying 10% annual interest, compounded quarterly. (Round your answer to the nearest cent.)
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