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Mathematics 26 Online
OpenStudy (anonymous):

How much would $125 invested at 8% interest compounded annually be worth after 14 years? Round your answer to the nearest cent. Do not include units in your answer.

mathslover (mathslover):

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mathslover (mathslover):

How much would $125 invested at 8% interest compounded annually be worth after 14 years? Do u know the formula for compound interest?

OpenStudy (callisto):

\[A = P (1+r)^n\] Where A is the amount, P is the principle, r is the interest rate, n is the number of period invested. So, put P = 125, r=8%(that is 0.08) and n = 14 into the formula. \[A = 125 (1+0.08)^{14} = ...?\]

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