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Directions : Compute the quarterly interest for two years for a deposit of $10,000.00 at a 6% annual interest rate. What is the quarterly interest
Directions: Compute the quarterly interest for two years for a deposit of $10,000.00 at a 6% annual interest rate.
What is the quarterly interest rate you will use in the calculations?
How did you determine what interest rate to use?
Year | Beginning Balance | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Total Interest | Ending Balance |
1
|
$10,000.00 | ||||||
2
|
How much interest was earned over the course of the two years?
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