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A principal of $4500 is invested at 6.5% interest, compounded annually. How much will the investment be worth after 5 years? Use the calculator provided and round your answer to the nearest dollar.

A principal of $4500 is invested at 6.5% interest, compounded annually. How much will the investment be worth after 5 years? Use the calculator provided and round your answer to the nearest dollar.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section7.8: Transforming Exponential Expressions
Problem 18PFA
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M * 00 R # 3 1C Finding a final amount in a word problem on exponential growt... A principal of $4500 is invested at 6.5% interest, compounded annually. How much will the investment be worth after 5 years? Use the calculator provided and round your answer to the nearest dollar. Explanation Check 22 MCOraw m LLC. All Rights Reserved. Tern of Use | Privacy C & | $ 5. 7. 4. T K B g8 option cmd cmd
Transcribed Image Text:M * 00 R # 3 1C Finding a final amount in a word problem on exponential growt... A principal of $4500 is invested at 6.5% interest, compounded annually. How much will the investment be worth after 5 years? Use the calculator provided and round your answer to the nearest dollar. Explanation Check 22 MCOraw m LLC. All Rights Reserved. Tern of Use | Privacy C & | $ 5. 7. 4. T K B g8 option cmd cmd
* 00 R C. O EXPONENTIAL AND LOGARITHMIC FUNCTIONS Calculating and comparing simple interest and compound... Joe deposits $ 60,000 into an account that pays 3% interest per year, compounded annually. Salma deposits $60,000 into an account that also pays 3% per year. But it is simple interest. Complete the table below by giving the interest each person will earn for each year. Joe's account Salma's account (Interest compounded annually) (Simple interest) (a) Interest earned during the first year (b) Interest earned during the second year Is (c) Interest earned during the third year Explanation Check LLC. All Rights Reserved. 1111.P 070 & #3 $ 4. 5. 3. qE G H. ock B. 34
Transcribed Image Text:* 00 R C. O EXPONENTIAL AND LOGARITHMIC FUNCTIONS Calculating and comparing simple interest and compound... Joe deposits $ 60,000 into an account that pays 3% interest per year, compounded annually. Salma deposits $60,000 into an account that also pays 3% per year. But it is simple interest. Complete the table below by giving the interest each person will earn for each year. Joe's account Salma's account (Interest compounded annually) (Simple interest) (a) Interest earned during the first year (b) Interest earned during the second year Is (c) Interest earned during the third year Explanation Check LLC. All Rights Reserved. 1111.P 070 & #3 $ 4. 5. 3. qE G H. ock B. 34
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