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Nominal annual interest rate

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If you just deposited $4,000 in a bank account that pays a 2.0% nominal annual interest rate, compounded quarterly. If you also add another $8,000 to the account one year (4 quarters) from now and another $12,000 to the account two years (8 quarters) from now, how much will be in the account three years (12 quarters) from now?

Reference no: EM132003205

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