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How much would $600 invested at 8% interest compounded annually be worth after 3 years? Round your answer to the nearest cent.
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3 votes
How much would $600 invested at 8% interest compounded annually be worth after 3 years? Round your answer to the nearest cent.

User Julius Fasema
by
8.7k points

1 Answer

3 votes

Answer:

Explanation:

A = P (1 + i)³

A = final amount

P = principal

i = interest

3 = 3 years

A = $600 (1 + 0.08)³

A = $600 (1.26)

A = $756

User Dannie P
by
7.9k points
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