SOLUTION: If 15,000 is invested at an interest rate of 11% per year, find the amount of the investment after 5 years for each of the compounding methods

SOLUTION: If 15,000 is invested at an interest rate of 11% per year, find the amount of the investment after 5 years for each of the compounding methods

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Question 736979: If 15,000 is invested at an interest rate of 11% per year, find the amount of the investment after 5 years for each of the compounding methods
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=15000(1.11)^5
A=15000*1.685
A=$25,275.00
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