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An investment of $700 increases by 0.3% each month...

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An investment of $700 increases by 0.3% each...

An investment of $700 increases by 0.3% each month.

a. What is the value of the investment after 5 months?

b. What is the value after 1 year?

asked Feb 23, 2014 in Geometry Answers by shiftwell Level 1 User (280 points)

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1 Answer

700$ go up 0.3% per month

5 months...1.003^5=1.0150902704052424

700$*1.0150927=710.56318928366$

bout 710.56$

1 yeer...12 months...1.003^12=1.03659998028813

700*1.0365999...=725.6199862016911

answered Feb 23, 2014 by muneepenee

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