A bank offers an investment account with an annual interest rate of 1.18% compounded quarterly. Lamar...
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A bank offers an investment account with an annual interest rate of 1.18% compounded quarterly. Lamar invests $3800 into the account for 2 years. Answer the questions below. Do not round any intermediate computations, and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Assuming no withdrawals are made, how much money is in Lamar's account after 2 years? $0 (b) How much interest is earned on Lamar's investment after 2 years? $0 A bank offers an investment account with an annual interest rate of 1.18% compounded quarterly. Lamar invests $3800 into the account for 2 years. Answer the questions below. Do not round any intermediate computations, and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Assuming no withdrawals are made, how much money is in Lamar's account after 2 years? $0 (b) How much interest is earned on Lamar's investment after 2 years? $0
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