A $20,000 deposit earns 4.8% interest for 3 years. What is the final account balance if the interest is compounded semiannually? Quarterly? Monthly?

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Question

I don't understand anything about percentages. I need all of them the semiannually,

quarterly, and monthly.

Answer 1

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A ​$20,000 deposit earns ​4.8% interest for 3 years. What is the final account balance if the interest is compounded​ semiannually? Quarterly?​ Monthly?