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25 October, 01:27

Suppose you invest $5,000 at 9% interest, compounded annually, for 10 years. Determine the future value of your investment, using the compound interest formula.

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  1. 25 October, 01:44
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    12256.79

    Step-by-step explanation:

    S=P (1+i) ^n

    i=9/12

    =0.75

    Divided by 100

    =0.0075

    n=12x10

    =120

    5000 (1+0.0075) ^120

    =12256.79
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