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A principal of $4200 is invested at 9% Interest, compounded annually. How much will the investment worth after 6 years? Use the calculator provided and round your answer to the nearest dollar
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A principal of $4200 is invested at 9% Interest, compounded annually. How much will the investment worth after 6 years? Use the calculator provided and round your answer to the nearest dollar

User Adam Jenkin
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1 Answer

1 vote
Answer:7043.82

It would be 4200 x 1.09 which is the interest to the power of 6 for the number of years which would then give you 4200 x 1.09^6. This will then give the answer of 7043.82
User Brazorf
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