SOLUTION: Hannah invested $35,000 in a mutual fund that earns 6% interest per annum compounded annually. To the nearest dollar, how much was her investment worth after 3 years?

Algebra ->  Finance -> SOLUTION: Hannah invested $35,000 in a mutual fund that earns 6% interest per annum compounded annually. To the nearest dollar, how much was her investment worth after 3 years?       Log On


   

Question 1097178:
Hannah invested $35,000 in a mutual fund that earns 6% interest per annum compounded annually. To the nearest dollar, how much was her investment worth after 3 years?
Answer by jorel1380(3719) About Me  (Show Source):
You can put this solution on YOUR website!
35,000 x (1+0.06)^3=35,000 x 1.191016=$41685.56 after 3 years
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