document.write( "Question 1147446: Tom invests €5600 for 6 years at 9% pa simple interest. How much is his investment worth at
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Algebra.Com's Answer #768772 by ikleyn(52852) $\"\"$ $\"About$

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document.write( "A general formula for a simple interest account earning r percents per year is\r\n" );
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document.write( "    FV = A*(1 + r*t)\r\n" );
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document.write( "where A is the original deposit, FV is the future value, r is the annual rate expressed as a decimal, t is the time (in years).\r\n" );
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document.write( "In our case,  A = 5600 euro; r = 0.09; t = 6 years.\r\n" );
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document.write( "The future value of the account after 6 years is \r\n" );
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document.write( "    5600 + 0.09*5600*6 = 8624 euro.      ANSWER\r\n" );
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