Find the original price. Round to the nearest cent. Sale price: $42 Discount: 30%
1 answer:
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Answer:
$5265.71
Step-by-step explanation:
We have been given that you deposit $3000 into a money-market savings account which pays 4.8% compounded quarterly.
We will use future value formula to solve our given problem.
, where,
,
r = Rate of return in decimal form,
n = Number of periods.
Therefore, there will be $5265.71 in your account at the end of those 3 years.