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-   -   To what amount will $5,000 invested for 8 years at 9% compounded annually accumulate? (https://www.askmehelpdesk.com/showthread.php?t=751045)

  • May 28, 2013, 12:40 PM
    cbanger
    To what amount will $5,000 invested for 8 years at 9% compounded annually accumulate?
    To what amount will $5,000 invested for 8 years at 9% compounded annually accumulate?
  • May 28, 2013, 01:37 PM
    ebaines
    Memorize and use this formula for compound interest:



    For your problem PV = present value = $5000, i = interest rate = 0.09, and t = 8. What do you get for the future value?

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