3 (a+7) = −33 Step By Step Equation
1 answer:
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Answer: The investment will be 6314 after 9 years.
Step-by-step explanation:
Formula to calculate the accumulated amount in t years:
, whereP= principal amount, r= rate of interest ( in decimal)
Given: P = $4,625
r= 3.52% = 0.0352
t= 9 years
Then, the accumulated amount after 9 years would be:
Hence, the investment will be 6314 after 9 years.