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3 years ago

If $1,000 is invested at 16% interest, compounded annually,

Mathematics

1 answer:

Harrizon [31]3 years ago

8 0

Answer:

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

P=principal amount

A=value of investment

r= interest rate in decimals

n=number of times compounded

t=time in years

P=1000(1+0.16/12)^12(5)= $2213.8 rounded

Step-by-step explanation:

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