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27-04-2017
Mathematics

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How much would $100 invested at 8% interest compounded monthly be worth after 6 years? Round your answer to the nearest cent. Do not include units in your answer.

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mohmmdx mohmmdx

27-04-2017

FV = $100*(e^rt)
FV = $100*e^(0.08*6)
FV = $100*e^0.48
FV = $100*1.616
FV = $161.6

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