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Find (a) the future value of the given principal P and (b) the interest earned in the giv P = $3500 at 6.5% compounded annually for 17 years

Find (a) the future value of the given principal P and (b) the interest earned in the giv P = $3500 at 6.5% compounded annually for 17 years

Algebra and Trigonometry (6th Edition)
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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**Future Value and Interest Calculation** Find (a) the future value of the given principal \( P \) and (b) the interest earned in the given period. \( P = \$3500 \) at 6.5% compounded annually for 17 years (a) The future value of the principal after 17 years is \$[ \_ ]. *(Round to the nearest cent as needed.)* (b) The interest earned in 17 years is \$[ \_ ]. *(Round to the nearest cent as needed.)*
Transcribed Image Text:**Future Value and Interest Calculation** Find (a) the future value of the given principal \( P \) and (b) the interest earned in the given period. \( P = \$3500 \) at 6.5% compounded annually for 17 years (a) The future value of the principal after 17 years is \$[ \_ ]. *(Round to the nearest cent as needed.)* (b) The interest earned in 17 years is \$[ \_ ]. *(Round to the nearest cent as needed.)*
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