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Use the compound interest formula to compute the total amount accumulated . $1060 for 5 years at 7% compounded annually

Use the compound interest formula to compute the total amount accumulated . $1060 for 5 years at 7% compounded annually
asked 138k views
1 vote
Use the compound interest formula to compute the total amount accumulated .

$1060 for 5 years at 7% compounded annually

asked
User Dfrib
by
8.2k points

1 Answer

2 votes

Answer:

1486.7

Explanation:

1060*(1+0.07)^5 = 1486.705

answered
User Stephen Vinouze
by
7.7k points
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