liliancalderon04 liliancalderon04

24-08-2021
Mathematics

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$600 invested with compound interest at a rate of 4% per year for 10 years
formula:M= P(1+i)^n

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FancyBun FancyBun

24-08-2021

Answer: M = 2100$

Explanation:

M = P(1 + I)^n

P = 600$, I = 4% = 0.04, n = 10

=> M = 600(1 + 0.04)^10
M = 600(1.04)^10
M = 600(3.5)
M = 2100$

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