07-06-2017
Mathematics

contestada

how much would $125 at 8% interest compounded annually be worth after 14 years

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TheKing6969 TheKing6969

07-06-2017

FV = 125*(1 + 0.08)^16 = $428.24

0.08*16 = 1.28

a(16) = 125*e^1.28 = 125*2.718281828^1.28 = 449.58

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