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5 November, 09:28

What would be the future value of a savings account started with $675, earning 9 percent (compounded annually) after 7 years? (?

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  1. 5 November, 10:31
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    The formula is

    A=p (1+r) ^t

    A future value?

    P present value 675

    R interest rate 0.09

    T time 7 years

    A=675 * (1+0.09) ^ (7) = 1,233.93
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