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Marina CMI [18]
2 years ago
7

PLEASE NO LINKS OR SITES!!!! JUST ANSWERS. THANK YOU!

Mathematics
1 answer:
lutik1710 [3]2 years ago
6 0

Answer:

F=-9

Hope This Helps!

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Lacy opened a savings account and deposited $100. The account earns 6% interest compounded monthly if she wants to use the money
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Answer:

Future Value= $112.72

Step-by-step explanation:

Giving the following information:

Initial deposit (PV)= $100

Number of periods (n)= 2*12= 24 months

Interest rate (i)= 0.06/12= 0.005

<u>To calculate the future value (FV), we need to use the following formula:</u>

FV= PV*(1 + i)^n

FV= 100*(1.005^24)

FV= $112.72

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