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28 December, 14:27

Ryan miller would like to buy a condo in florida in six years. he is looking to invest $78,000 today in a stock that is expected to earn a return of 13.7 percent annually. how much will he have at the end of six years?

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  1. 28 December, 15:32
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    So you would do 78,000 * (1.137) ^6

    The formula is Principal * (1+rate) ^number of terms

    The answer is 168,522.30
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