Consider the following investment. (Round your answers to the nearest cent.) $2,000 at 7% compounded annually for 12 years (a) Find the future value of the given amount. $ ____ (b) Interpret the future value of the given amount. After 12 years, the investment is worth $____ .
Consider the following investment. (Round your answers to the nearest cent.) $2,000 at 7% compounded annually for 12 years (a) Find the future value of the given amount. $ ____ (b) Interpret the future value of the given amount. After 12 years, the investment is worth $____ .
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.CR: Chapter Review
Problem 52E: Investment problem If Landon invests 3000 in a 6-year certificate of deposit at the annual rate of...
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Consider the following investment. (Round your answers to the nearest cent.)
$2,000 at 7% compounded annually for 12 years
(a) Find the future value of the given amount.
$ ____
(b) Interpret the future value of the given amount.
$ ____
(b) Interpret the future value of the given amount.
After 12 years, the investment is worth $____ .
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