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If a person invests $260 at 4% annual interest, find the approximate value of the investment at the end of 5 years

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  1. 24 May, 06:06
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    The formula is

    A=p (1+r) ^t

    A future value?

    P present value 260

    R interest rate 0.04

    T time 5years

    A=260 * (1+0.04) ^ (5)

    A=316.33
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