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Jeff invests $500 one time at an annual interest rate of 8% that is compounded quarterly for 10 years. How many periods will the interest be calculated (compounded)?



Answer :

Answer:

40 periods

Step-by-step explanation:

Given that the compounding rate is quarterly, which means once every 3 months over a length of 10 years. The period would be:

10 x 4 = 40

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