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Math

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What is the future value of $800 invested for 14 years at 11 percent compounded annually

  • Math - ,

    P = Po(1+r)^n.

    r = 11%//100% = 0.11 = Annual % rate expressed as a decimal.

    n = 1comp./yr. * 14yrs.=14Compounding
    periods.

    Plug the above values into the given Eq and solve for P.

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