Ethel1010 Ethel1010

02-05-2020
Mathematics

contestada

A principal of $2300 is invested at 6.5% interest, compounded annually. How much will the investment be worth after 13 years

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Chelboy Chelboy

02-05-2020

Answer:$5215.25

Step-by-step explanation:

Principal(p)=$2300

rate(r)=6.5%

time(n)=13years

amount =p(1+r/100)^n

Amount=2300 x (1+6.5/100)^13

Amount=2300x(1+0.065)^13

Amount=2300x(1.065)^13

Amount =2300 x 2.2675

Amount =5215.25

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