The balance in a bank account with an annual interest rate of 2%, compounded annually, can be represented using the function f(t) = 1000(1.02), where t is the time in years after opening the 1 account. What was the approximate account balance 6 years and 3 months, or 6- years, after 4 the account was opened?

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A: We will use the compound interest formula to find the time.

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Q: compounded quarterly.

A:

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