If $2000 is invested for x years at 8%, compounded quarterly, the future value that will result is represented by the following equation. S = 2000(1.02)4x What amount will result in 6 years? (Round your answer to the nearest cent.)
If $2000 is invested for x years at 8%, compounded quarterly, the future value that will result is represented by the following equation. S = 2000(1.02)4x What amount will result in 6 years? (Round your answer to the nearest cent.)
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 22T
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If $2000 is invested for x years at 8%, compounded quarterly, the future value that will result is represented by the following equation.
S = 2000(1.02)4x
What amount will result in 6 years? (Round your answer to the nearest cent.)
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