hdodneiej hdodneiej

23-04-2021
Mathematics

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An initial investment is $6100.
It grows at a rate of 3% a year.
Interest is compounded yearly.
What is the value after 16 years? (nearest penny)

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biasattikelsey biasattikelsey

23-04-2021

32,533.3>
Because 6100x16=97,600divided by 3=32,533.3

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