SOLUTION: To what amount will the following investments accumulate?
1. $5,000 invested for 10 years at 10 percent compounded annually
2. $8,000 invested for 7 years at 8 percent com
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-> SOLUTION: To what amount will the following investments accumulate?
1. $5,000 invested for 10 years at 10 percent compounded annually
2. $8,000 invested for 7 years at 8 percent com
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Question 384623: To what amount will the following investments accumulate?
1. $5,000 invested for 10 years at 10 percent compounded annually
2. $8,000 invested for 7 years at 8 percent compounded annually
3. $775 invested for 12 years at 12 percent compounded annually
4. $21,000 invested for 5 years at 5 percent compounded annually Answer by solver91311(24713) (Show Source):
where is the future value, is the present value, is the annual interest rate expressed as a decimal, is the number of compounding periods per year, and is the number of years.
All 4 of your problems are done the same way. Just plug in the values and use your calculator to do the arithmetic. Note that for all four of your problems the number of compounding period per year is 1, and therefore for this exercise you can use a simplified form of the formula:
John
My calculator said it, I believe it, that settles it
