meredith48034 meredith48034

12-01-2023
Mathematics

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You just found out that your retirement fund is losing money at an annual rate of 6.3% compounded quarterly. Currently, you have $56,700 in the account.

a. Write an equation to show how much money will be in the account for any number of years.

b. How much will the account be worth after 14 years? Show or explain how you know.

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