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Find the future value of $1800 deposited at 8% for 5 years if the account pays simple interest, and the account pays interest compounded annually.

Respuesta :

TheBreeze
For one year:
0.08(1800) + 1800
But because it is 5 years:
5(0.08(1800)) + 1800
0.4(1800) + 1800
We can make it simpler:
1.4(1800)
Multiply:
2520
YOU NOW HAVE $2520

Answer:

The answer is 2,644.79.

You would have to calculate the three variables to get and complete your answer.

Step-by-step explanation:


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