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3 years ago

8

A principal of $3500 is invested at 3.75% interest, compounded annually. How much will the investment be worth after 12 years? R

ound to the nearest dollar

1 answer:

Thepotemich [5.8K]3 years ago

4 0

Use the compound amount formula:

A = P*(1+r/n)^(nt)

Here,

A = $3500*(1+0.0375/12)^(12*12) = $5485.24

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