What principal will amount to $4500 if invested at 4% quarterly for 5 years? interest compounded a. $3687.95 b. $3903.18 c. $3366.58 d. $3463.04
What principal will amount to $4500 if invested at 4% quarterly for 5 years? interest compounded a. $3687.95 b. $3903.18 c. $3366.58 d. $3463.04
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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[item-9] PLEASE PROVIDE THE CORRECT AND SOLUTION. (kindly provide complete and full solution. i won't like your solution if it is incomplete or not clear enough to read.)
Transcribed Image Text:What principal will amount to $4500 if invested at 4%
interest compounded quarterly for 5 years?
a. $3687.95
b. $3903.18
c. $3366.58
d. $3463.04
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