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If you invest $25.00 at 6% interest compounded monthly, how much will you have after 1 year?

If you invest $25.00 at 6% interest compounded monthly, how much will you have after 1 year?
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3 votes
If you invest $25.00 at 6% interest compounded monthly,
how much will you have after 1 year?

User Nakajima
by
8.8k points

1 Answer

2 votes
A=25(1+0.06/12)^(12)(1), A=25•1.005^12, A=26.54
User Macmist
by
8.1k points
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