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Interest compounded annually.
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If P dollars are deposited at an interest rate r and compounded n times, the future value An can be found by the formula An = P(1 + r)n. Find the rate of interest if a principal amount of $5000 grows to $6050.00 in 2 years if interest is compounded annually.
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What is $5000 compounded annually at 6% for 5 years?
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I'm trying to figure out how to do these problems and I can't get the right answers. I would really appreciate any help. 1. Assume that I deposit $1250 today into an account that pays 10% p.a. but with quarterly compounding. How much will be in my account exactly 35 years from today? 2....
Interest Compounded annually
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Interest compounded annually
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Interest rate of 13% compounded annually I need to find how much can be lent now if $10000 will be repaid at the end of five years? View more questions Search
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