SOLUTION: One hundered dollars is invested at 7.2% interest compounded annually. Determine how much the investment is worth after 10 years.
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Question 272076: One hundered dollars is invested at 7.2% interest compounded annually. Determine how much the investment is worth after 10 years.
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
100(1+.072)^10
100*1.072^10
100*2.0042=$200.42 ANS. FOR THE VALUE OF THE INVESTMENT AFTER 10 YEARS.
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