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3 years ago

$459 into an investment at 5% for six years. What will the balance be at the end of six years?

Business

1 answer:

mrs_skeptik [129]3 years ago

7 0

Answer:

A=615.10

Explanation:

The balance after six years is the future value of 459 at a 5% interest rate.

The applicable formula is

A= P( 1+ r )^n

A = amount after six years

P= 459

r=5%

N=6 year

A= 459(1+5/100)^6

A = 459(1.05)^6

A=459 x 1.34

A=615.06

A=615.10

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Answer:

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Answer:

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2 years ago

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Answer:

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Additional steps are attached as files

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Answer:

a. The nominal interest rate is 0.5%, and the real interest rate is -2.5%.

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Explanation:

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From the question, we have:

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