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16-08-2019
Computers and Technology

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If the present value of an investment is 5000, what will be its future value in three years if you apply a compound interest of 5 percent to it?

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mathmate mathmate

16-08-2019

Explanation:

Present value = 5000

interest = 5% (ASSUMED compounded yearly)

Future value after three years

= (5000)*(1.05^3)

= 5788.12 (nearest cent)

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