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Bas_tet [7]
3 years ago
8

You have $1,900 in savings for retirement. If your investments earn 8% annually, how much will you have in your retirement accou

nt in 6 years?
Mathematics
1 answer:
natima [27]3 years ago
6 0

Answer:

$3,015

Step-by-step explanation:

To determine the amount that you will have in 6 years, you have to use the formula to calculate the future value:

FV=PV*(1+i)^n

FV= future value

PV= present value= $1,900

i= interest rate= 8%

n= number of periods of time= 6 years

FV=1,900*(1+0.08)^6

FV=1,900*(1.08)^6

FV=3,015

According to this, the answer is that in 6 years you will have $3,015 in your retirement account.

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