SOLUTION: to what amount will $5100 invested for 8 years at 10% compounded annually accumulate?

SOLUTION: to what amount will $5100 invested for 8 years at 10% compounded annually accumulate?

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Question 677126: to what amount will $5100 invested for 8 years at 10% compounded annually accumulate?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
to what amount will $5100 invested for 8 years at 10% compounded annually accumulate?
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A(t) = P(1+(r/n))^(nt)
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A(8) = 5100(1+(0.1/1))^(1*8)
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A(8) = 5100*1.1^8 = $10932.30
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Cheers,
Stan H.
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