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OpenStudy (anonymous):
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OpenStudy (anonymous):
OpenStudy (anonymous):
So P is the initial investment, which in this case is $1,500 n is the number of years when the money is invested for, which it says is 18. Hence, using the formula, A = 1500[(1.1)^18], which comes to equal $8339.87597 or $8339.88 to two decimal places.
OpenStudy (anonymous):
Thanks!
OpenStudy (anonymous):
No worries at all.
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