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How much was the initial

amount invested if you earn
$5000 after 6 years at 3.5%
compounded monthly?

1 Answer

0 votes

Answer:

4,054.16

Explanation:

5,000/(1 + 3.5%/12)^6 x 12

4,054.16..........

The number will keep going but here is a rounded answer:

4,054.16

User Chris Aelbrecht
by
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