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maw [93]
3 years ago
5

Liam invests $5,000 in an account that pays 2.5% compound interest annually. He uses the expression P(1+r)t to find the total va

lue of the account after t years. What will be the total value of the account after 3 years?
Mathematics
1 answer:
Zanzabum3 years ago
6 0
<span>Total = Principal × ( 1 + Rate )^years
</span>
Total = 5,000 * (1.025)^3
Total = 5,000 * <span> <span> <span> 1.076890625 </span> </span> </span>
<span><span><span>Total = 5,384.45 </span> </span> </span>

Source:
http://www.1728.org/compint.htm




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