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Find the account balance

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Reference no: EM131110646

Use thecompound-interest formula to find the account balanceA, where P isprincipal, r is interestrate, n is number of compounding periods peryear, t istime, inyears, and A is account balance.

p= $50,785

r= 7 1/2%

t= 3 1/2

compounded= quarterly

The account balance is approximately ?

Reference no: EM131110646

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