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A sum of $ 5000 is invested at a compound interest rate of 6.3 % per annum. Write down an expression for the value of the investment after n full years.

A sum of $ 5000 is invested at a compound interest rate of 6.3 % per annum. Write down an expression for the value of the investment after n full years.
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A sum of $ 5000 is invested at a compound interest rate of 6.3 % per annum.

Write down an expression for the value of the investment after n full years.

asked
User Offwhitelotus
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8.9k points

1 Answer

2 votes
Finding the interest:
6.3 / 100 = 0.063

Solving:
0.063 * n full years (=0.063n)
0.063n * 5000





answered
User Abiezer
by
7.7k points
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