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How much will a one time investment of $250 be when invested at 6% for 40 years and compounded annually. Round your answer to the nearest cent (2 decimal places). You will not be able to bypass this question until you have the correct answer. Do not use commas in your answer.

1 Answer

2 votes

Answer:

$2571.43

Explanation:

F = P(1 + r)^t

F = 250(1 + 0.06)^40

F = 2571.43

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User Cristik
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