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Elenna [48]
3 years ago
7

$10,000 for 20 years at 5% compounded annually

Mathematics
1 answer:
saveliy_v [14]3 years ago
3 0

Answer:

$26532.98

Step-by-step explanation:

<u>Given:</u>

  • Principal = $10000
  • Profit rate = 5% PA compounded
  • Time = 20 years
  • Compounds = 20*1 = 20

<u>Sum is:</u>

  • 10000*(1 + 5/100)²⁰ ≈ 26532.98
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