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Answer to Question #293754 in Financial Math for gkgh

Question #293754

3600 dollars is placed in an account with an annual interest rate of 9%. How much will be in the account after 25 years, to the nearest cent?



1
Expert's answer
2022-02-08T16:57:36-0500

"A = P( 1 + r\/n) ^t"

"3600(1 + 0.09\/1)^{25}"

= $ 31043.09



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