SOLUTION: A principal of $4800 is invested at 4.5% interest, compounded annually. How much will the investment be worth after 7 years? Round to nearest dollar. Please help

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Question 1182017: A principal of $4800 is invested at 4.5% interest, compounded annually. How much will the investment be worth after 7 years?
Round to nearest dollar.
Please help
Answer by ikleyn(52776)   (Show Source): You can put this solution on YOUR website!
.

The future value in 7 years will be


     =  = 6532.14  dollars.    ANSWER

Solved.

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To see many other similar solved problems on compounded interest accounts,  look into the lesson
    - Compounded interest percentage problems
in this site.


Learn the subject from there.



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