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1 July, 21:29

How much would $600 invested at 8% interest compounded annually be worth after 3 years? Round your answer to the nearest cent.

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  1. 1 July, 23:28
    0
    Total = principal * (1 + rate) ^years

    Total = 600 * (1.08) ^3

    Total = 600 * 1.259712

    Total = 755.83
  2. 2 July, 00:20
    0
    The formula is

    A=p (1+r) ^t

    A future value?

    P present value 600

    R interest rate 0.08

    T time 3years

    A=600 * (1+0.08) ^ (3)

    A=755.83
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