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27 November, 19:45

How much would $200 invested at 5% interest compounded monthly be worth after 9 years? Round your answer to the nearest cent.

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  1. 27 November, 19:46
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    A = P (1 + r/n) ^nt

    =200 (1 + 0.05/12) ^12 (9)

    =313.37
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