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$600 invested with compound interest at a rate of 4% per year for 10 years formula:M= P(1+i)^n
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4 votes
4 votes
$600 invested with compound interest at a rate of 4% per year for 10 years

formula:M= P(1+i)^n

User Yaroslav Nikitenko
by
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1 Answer

19 votes
19 votes
Answer: M = 2100$

Step-by-step explanation:

M = P(1 + I)^n

P = 600$, I = 4% = 0.04, n = 10

=> M = 600(1 + 0.04)^10
M = 600(1.04)^10
M = 600(3.5)
M = 2100$
User Ben Call
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2.7k points
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