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6 March, 11:00

The expression 1500 (1.07) ^t represents the value of a $1500 investment that earns 7% interest per year, compounded annually for t years. what is the vaule of a $1500 investment at the end of 2 years?

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  1. 6 March, 11:22
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    Total = Principal * (1 + rate) ^ years

    Total = 1,500 * (1.07) ^ 2

    Total = 1,717.35
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