A stamp collection worth $1400 appreciates at a rate of 10% per year. How much will it be worth after 25 years? A = I (1+i)t
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Step 1: The formula for calculating the future value of an investment with compound interest is A = I (1+i)^t, where A is the future value, I is the initial investment, i is the interest rate, and t is the number of years. Show more…
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