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27 April, 10:07

A principal of $3700 is invested at 4.75% interest, compounded annually. How much will the investment be worth after 9 years?

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  1. 27 April, 10:36
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    Amount = 3,700 * (1.0475) ^9

    Amount = 3,700 * 1.5184003135

    Amount = 5,618.08
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