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OpenStudy (anonymous):
Mimi has 28,000 euro to invest and can place it in an account that pays 7 1/2 % p.a. compounded monthly. After a 4 year period how much will it be?
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OpenStudy (anonymous):
37,760.78 euros \[2800( 1+(.075 /12))^{12*4}\]
OpenStudy (anonymous):
Missed a zero, as long as you use 28000 you'll get the answer.
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