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Pani-rosa [81]
3 years ago
7

600$ for 3 years at 6% compounded annually?

Mathematics
2 answers:
Alexeev081 [22]3 years ago
6 0
F=P(1+ \frac{r}{n})^{tn}
F=future amount
P=present amount
r=rate in decimal
n=number of times per year compounded
t=time in years


F=600(1+ \frac{0.06}{1})^{(3)(1)}
F=600(1.06)^{3}
F=714.61

answer is $714.61
Alik [6]3 years ago
5 0
Your set up would be A=600e^(.06*3)
Your answer would be <span>1630.96909708
And if you round it to the nearest 4th decimal it would be
1630.9691</span>
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