Find the total value of the investment after the time given. 11) 7,300 at 7% compounded annually for 3 years 12) 1,030 at 4% compounded annually for 2 years 13) 18,000 at 9% compounded annually for 6 years
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The formula for compound interest is: \[ A = P \left(1 + \frac{r}{n}\right)^{nt} \] where: - \( A \) is the amount of money accumulated after n years, including interest. - \( P \) is the principal amount (the initial amount of money). - \( r \) is the annual Show more…
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