SOLUTION: Find the compound amount for the deposit. $1,050.00 at 6.5% compounded annually for 17 years.

SOLUTION: Find the compound amount for the deposit. $1,050.00 at 6.5% compounded annually for 17 years.

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Question 890051: Find the compound amount for the deposit. $1,050.00 at 6.5% compounded annually for 17 years.
Answer by nerdybill(7384) (Show Source): You can put this solution on YOUR website!
Find the compound amount for the deposit. $1,050.00 at 6.5% compounded annually for 17 years.
.
interest formula:
A = P(1+i)^t
A = 1050(1+.065)^17
A = 1050(1.065)^17
A = 1050(2.917046366)
A = $3062.90
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