Use the compound interest formula $A = P \left(1 + \frac{r}{n}\right)^{nt}$ to solve. Round to two decimal places. Find the accumulated value of an investment of $1,200 at 16% compounded quarterly for 4 years. A. $2,247.58 B. $2,172.77 C. $1,403.83 D. $1,968.00
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16 (annual interest rate) * n = 4 (number of times interest is compounded per year) * t = 4 (time in years) Show more…
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