Use the compound interest formula to determine the accumulated balance after the stated period.   ​$5000 invested at an APR of 5​% for 3 years.

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter1: Equations, Inequalities, And Mathematical Modeling
Section1.6: Other Types Of Equations
Problem 9ECP: You deposit $2500 in a long-term investment in which the interest is compounded monthly. After 5...
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Use the compound interest formula to determine the accumulated balance after the stated period.
 
​$5000 invested at an APR of 5​% for 3 years.
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