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Mathematics, 25.07.2019 05:40 nhs5

45 alexander deposited money into his retirement account that is compounded annually at an interest rate of 7%. alexander thought the equivalent quarterly interest rate would be 2%. is alexander correct? if he is, explain why. if he is not correct, state what the equivalent quarterly interest rate is and show how you got your answer.

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45 alexander deposited money into his retirement account that is compounded annually at an interest...
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