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Paige invested 1200 at an interest rate of 5.75% compounded quarterly. Determine the value of her investments in 7 years.
use the formula A=p(1+r)^n where A= value of investment r= rate n= time period p= amount invested in this question r= 5.75% but compounded quarterly means divide this by 4 r= 23/1600 n=7*4 n=28 p= $1200 A=1200(1+23/1600)^28
A= $1789.54
Therefore the value of her investment in 7 years is $1789.54
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