02-06-2017
Mathematics

contestada

5000 principal earning 3% compounded annually, 8 years

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Aliwohaish12 Aliwohaish12

02-06-2017

Hi there
The formula is
A=p (1+r)^t
A future value?
P present value 5000
R interest rate 0.03
T time 8 years

A=5,000×(1+0.03)^(8)
A=6,333.85

Hope it helps

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