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Popular Word Problems >

If 50,000 is invested at 8%, compounded annually, find the future value in 4 years.

Solution

I f ​50, 000 i s in v es t e d a t 8​%, co m p o u n d e d ​ ann u a ll y, f in d t h e f u t u re v a l u e in 4 ye a rs .

Solution

Amount : 68024.448

Solution steps

Translate the problem into an equation:

A = 50000 (1 + \frac{0.08}{1})^{1 \cdot 4}

50000 (1 + \frac{0.08}{1})^{1 \cdot 4} = 68024.448

Amount : 68024.448

Popular Examples

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