AmelianaH63776 AmelianaH63776

31-10-2022
Mathematics

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how much will you have after 10years with $2,500 principal earning 6% , compounded monthly ? Round to the nearest cent .

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LarenzP410487 LarenzP410487

31-10-2022

Answer:

Explanation:

Given the following:

Principal (P) = $2,500

Rate (R) = 6% = 0.06

Time (T) = 10 years

The Compound Interest is:

[tex]I=P(1+R)^T[/tex][tex]undefined[/tex]

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