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An account is opened with an initial deposit of $100 and earns 3.0% interest compounded monthly. What will the account be worth in 25 years? Round your answer to the nearest cen…

An account is opened with an initial deposit of $100 and earns 3.0% interest compounded monthly. What will the account be worth in 25 years? Round your answer to the nearest cen…
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1 vote
An account is opened with an initial deposit of $100 and earns 3.0% interest compounded monthly.

What will the account be worth in 25 years?

Round your answer to the nearest cent.

Do NOT round until you have calculated the final answer.

asked
User Jotik
by
8.6k points

2 Answers

3 votes

Answer:

Explanation:

211.50

answered
User EnterJQ
by
7.3k points
4 votes
= 100 ( 1 + 3/100 ) ^ 25
= 209.377793
= 209.4
answered
User Morchul
by
8.3k points
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