JayseanW106890 JayseanW106890

29-10-2022
Mathematics

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You deposit 650$ in an account paying an annual simple interest rate of 7.2% find the future value of the investment

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NahoaO486703 NahoaO486703

29-10-2022

solution\

[tex]\begin{gathered} P=650\text{ } \\ r=7.2\% \end{gathered}[/tex]

The future value is;

[tex]\begin{gathered} FV=650+\frac{650(7.2)t}{100} \\ FV=650+46.8t \end{gathered}[/tex]

Where t is the number of years.

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