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What is the compounded quarterly

Problem: A water-skiing boat is purchased for $26,565 quarterly payments to be made for four years with interest at 8% per annum. What is the compounded quarterly?

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## Q : What was the average annual rate of increase

Charlotte's firm had sales of $525,000 in the year 2001. By 2012, sales had increased to $1,200,000. What was the average annual rate of increase?