Question 1180024
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Yes you have the correct answer. Technically the more accurate answer is $1480.24, but your teacher must be only wanting the figure to the nearest whole dollar.


Work Shown:
A = P*(1+r/n)^(n*t)
A = 1000*(1+0.08/2)^(2*5)
A = 1480.24428491834
A = 1480
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