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Santiago is going to invest in an account paying an interest rate of 1.5% compounded quarterly. How much would
Santiago need to invest, to the nearest dollar, for the value of the account to reach $320 in 14 years?

Santiago is going to invest in an account paying an interest rate of 15 compounded quarterly How much would Santiago need to invest to the nearest dollar for th class=


Answer :

aRounded to the nearest dollar, Santiago would need to invest approximately $260 for the value of the account to reach $320 in 14 years.

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