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GalinKa [24]
3 years ago
9

Danni placed $5700 in a savings account which compounds interest continuously at a rate of 2.1%. How much will she have in the a

ccount after 4 years
Business
1 answer:
sdas [7]3 years ago
5 0

Answer:

$6,194.09

Explanation:

The amount that Danni will have in her savings account (FV) can be determined using a Financial Calculator as follows :

PV = - $5700

N = 4

I/Yr = 2.1 %

P/Yr = 1

PMT = $0

FV = ??

The Future Value (FV) is $6,194.09

Thus, she will have in the account after 4 years an amount of $6,194.09

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