Eva to the nearest cent. invests $9800 in a new savings account which earns 4.1 % annual interest, compounded monthly. What will be the value of her investment after 8 years? Round

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 15PT: Rachael deposits $3,600 into a retirement fund each year. The fund earns 7.5% annual interest,...
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Eva invests $9800 in a new savings account which earns 4.1% annual interest, compounded monthly. What will be the value of her investment after 8 years? Round
to the nearest cent.
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Transcribed Image Text:Eva invests $9800 in a new savings account which earns 4.1% annual interest, compounded monthly. What will be the value of her investment after 8 years? Round to the nearest cent. Answer How to enter your answer (opens in new window) Keypad Keyboard Shortcut
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