Rick receives $1500 for winning first prize in an art competition. Rick decides to invest the prize money in an account with interest rate 4.25%, compounded quarterly. How much will be in Rick’s account in 12 years?
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he receives the price 1500
he things to invest 4.25%
4.25%= 425/1500 x 100 = 2.8 _ 3%
his invest after 12 years - 2.8×12=33.6
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