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OpenStudy (anonymous):
A $5,400.00 principal earns 6% interest, compounded annually. After 8 years, what is the balance in the account? Explain how you got your answer, please.
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OpenStudy (anonymous):
FV = PV (1+r)^n future value = 5400(1+0.06)^8 FV = $8606.78
OpenStudy (anonymous):
Sorry, I'm not really understanding that @Light&Happiness
OpenStudy (anonymous):
Oh wait, I got it now.
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