Find the amount in the account after one year

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Michael invested $4800in an account that pays an annual interest rate of 2.7%, compounded quarterly.

Problem A. Find the amount in the account after one year, assuming no withdrawals are made. Do not round any intermediate computations, and round your answer to the nearest cent

Problem B. Find the effective annual interest rate, expressed as a percentage. Do not round any intermediate computations, and round your answer to the nearest hundredth of a percent

Reference no: EM133010447

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