Suppose Elsa saves $5,000 at an interest rate of 6%. How much will he have in 25 years? $12,500 $21,459 $25,699 $28,508 years? Suppose Elsa saves $5,000 at an interest rate of 6%.How much will he have in 25 $12,500 $21,459 $25,699 $28,508
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The formula for compound interest is A = P(1 + r/n)^(nt), where: A = the future value of the investment/loan P = the principal investment amount (the initial deposit or loan amount) r = the annual interest rate (in decimal form) n = the number of times that Show more…
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