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Nat2105 [25]
3 years ago
9

A principal of $2000 is invested at 7% interest, compounded annually. How much will the investment be worth after 10 years? Use

the calculator provided and round your answer to the nearest dollar.
Mathematics
1 answer:
zubka84 [21]3 years ago
3 0

Answer:

$4,027.51

Step-by-step explanation:

Use the formula P*e^(r * t)

P = principal amount

e = the constant e

r = rate

t = time, in years

2,000 * e ^ (0.07 * 10)

2,000 * e ^ (0.7) ≈ 4,027.51

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