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13 June, 10:59

Suppose that $9,000 is invested in an account at 6% interest. Find the account balance after 7 years if the interest is compounded annually.

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  1. 13 June, 13:18
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    If you have $9,000 in an account and a 6% interest add $9,000 + 6% = $9,540

    then multiply $9,540 by 7 so you get the estimated amount $9,540 x 7 = 66,780

    therefore the answer is $66,780
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