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An account is opened with an initial deposit of $100 and earns 3.0% interest compounded monthly. What will the account be worth in 25 years? Round your answer to the nearest cent. Do NOT round until you
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An account is opened with an initial deposit of $100 and earns 3.0% interest compounded monthly.

What will the account be worth in 25 years?

Round your answer to the nearest cent.

Do NOT round until you have calculated the final answer.

User Jotik
by
7.4k points

2 Answers

3 votes

Answer:

Explanation:

211.50

User EnterJQ
by
6.1k points
4 votes
= 100 ( 1 + 3/100 ) ^ 25
= 209.377793
= 209.4
User Morchul
by
6.9k points
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