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Eva invests $7900 in a new savings account which earns 5.0% annual interest, compounded monthly. What will be the value of her investment after 6 years? Round to the nearest cent.
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Jan 12, 2024
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Eva invests $7900 in a new savings account which earns 5.0% annual interest, compounded monthly. What will be the value of her investment after 6 years? Round to the nearest cent.
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Cory Klein
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Answer:
$7,900(1 + .05/12)⁷² = $10,657.24
Technophyle
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Jan 16, 2024
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