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disa [49]
2 years ago
3

Kaylee used her graduation money to set up a savings account that earns 3.4% interest

Mathematics
1 answer:
Romashka [77]2 years ago
3 0

Answer:

$702.37

Step-by-step explanation:

-Lets take 1 year has 52 weeks.

#Effective interest rate for 3.4% compounded weekly:

i_m=(1+i/m)^m-1\\\\=(1+0.034/52)^{52}-1\\\\=0.03457

#We use the effective rate to calculate the compounded amount after 10 years as follows:

A=P(1+i)^n\\\\=500(1.03457)10\\\\=702.37

Hence, the compounded amount after 10 years is $702.37

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Answer:

(b, a)

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PLEASE HELP ASAP!!! CORRECT ANSWER ONLY PLEASE!!!
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2 years ago
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