baileyjamesb619 baileyjamesb619

08-10-2022
Mathematics

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Dave put $22,000 in an investment that is compounded yearly at a rate of 7%. The investment is over a 15-year period. What is the amount of Dave's total investment? Use the formula: A = ( 1 + r/n) to the nt power which is supposed to be = 22,000 (1.07) to the 15 power?

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