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Suppose that $50,000 is invested at 9% interest. Find the amount of money in the account after 4 years if the interest is compounded annually.

Suppose that $50,000 is invested at 9% interest. Find the amount of money in the account-example-1
User Jemenake
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1 Answer

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$50,000 is invested at 9​% interest.

after 4 years

compounded annually.


\begin{gathered} 50000\cdot(1+0.09)^4 \\ 50000\cdot(1.09)^4=70579.08\text{ dollar} \end{gathered}

User Jesse James
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