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$850 at 8% for 8 years, compounded annually.
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4 votes
$850 at 8% for 8 years, compounded annually.

User MPlanchard
by
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1 Answer

3 votes
A=P(1+r)^t
r=rate in decimal
A=future amount
P=present amount
t=time in years


A=850(1+0.08)^5
A=850(1.08)^5
A=1573.29


User SioGabx
by
5.9k points
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