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The amount of money an engineer receives from a bank if he invests $50,000 for 7 years at 11.5% per annum compound interest. ​

The amount of money an engineer receives from a bank if he invests $50,000 for 7 years at 11.5% per annum compound interest. ​
asked 171k views
1 vote
The amount of money an engineer receives from a bank if he invests $50,000 for 7 years at 11.5% per annum compound interest.

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asked
User Anthony Taylor
by
7.6k points

1 Answer

3 votes

Answer:

$107125.80

working out:

50000x1.115^7=107125.8 (rounded)

answered
User Gedas Miksenas
by
9.0k points
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