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Irina18 [472]
4 years ago
10

The amount that results when $4000 is compounded at 6% annually over seven years

Mathematics
2 answers:
victus00 [196]4 years ago
5 0
Total = Principal * (1 + .06)^7
Total = 4,000 * (1.06) ^ 7
Total = 4,000 * <span> <span> <span> 1.503630259 </span> </span> </span>
<span><span><span>Total = 6,014.52</span>


</span> </span>

malfutka [58]4 years ago
5 0

Answer:

The amount is $6014.52.

Step-by-step explanation:

Given : $4000 is compounded at 6% annually over seven years?

To find : The amount?

Solution :

Apply compound interest formula,

A=P(1+r)^t

Where, A is the amount

P is the principal P=$4000

r is the rate of interest r=6%=0.06

t is the time t=7 years

Substitute the value in the formula,

A=P(1+r)^t

A=4000(1+0.06)^7

A=4000(1.06)^7

A=4000\times 1.503

A=6014.52

Therefore, The amount is $6014.52.

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Answer:

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Step-by-step explanation:

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</span>now we have: 
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