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April 17, 2014

Homework Help: Calculus

Posted by -Untamed- on Wednesday, September 21, 2011 at 8:58pm.

I keep getting confused on this stuff.

Alan invests $2500 in a 5 year Government bond paying interest at 3.7% per annum compounded annually. Calculate the value of the bond at maturity (after 5 yrs)

Tn = 2500(0.037)^5-1
= 2500(0.037)^4
= 2500(1.8741*10^-6)

I know the third step is wrong, but I keep getting to the power of.

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