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Svetllana [295]
2 years ago
5

Hi can someone please help me with this i will give you five stars!!

Mathematics
1 answer:
tino4ka555 [31]2 years ago
3 0

Step-by-step explanation:

Let's look at what we know. We know that...

P=2000

r=0.04 (Change 4% to a decimal)

t=7 (25 years minus 18 years equals 7)

n=1

Since we are compounding each year, we need to use this equation: P(1+\frac{r}{n} )^{nt}

Now just plug the numbers in: (Answer to #1:) 2000(1+\frac{0.04}{1} )^{(1*7)}

This equals 2631.86

When we round, this equals to $2,632. (Answer to #2).

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