Compare investing $500 at 7% compounded monthly for 14 years with investing $500 at 13% compounded monthly for 14 years. The final amount after investing at 7% is $ (Type an integer or a decimal. Round to the nearest cent as needed.)

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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What would the final amount be for 7% and for 14%
Compare investing $500 at 7% compounded monthly for 14 years with investing $500 at 13% compounded monthly for 14 years.
The final amount after investing at 7% is $
(Type an integer or a decimal. Round to the nearest cent as needed.)
Enter your answer in the answer box and then click Check Answer.
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Transcribed Image Text:Compare investing $500 at 7% compounded monthly for 14 years with investing $500 at 13% compounded monthly for 14 years. The final amount after investing at 7% is $ (Type an integer or a decimal. Round to the nearest cent as needed.) Enter your answer in the answer box and then click Check Answer. 2 parts remaining Clear All Ch MacBook Pro 80 D00 000 DII DD F1 F2 F3 F4 F5 F6 F7 F8 F9 @ 23 24 & 2 3 7 8 W E R Y U < cO
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