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How much would 200 invested at 6 percent intrest compounded annually be worth after 5 years?
Updated: 4/28/2022
Wiki User
∙ 12y agoBest Answer
Formula for future value is F = P*(1 + r)^n, Where:
- F is Future value
- P is Present value
- r is the rate per unit time (so 6% per year is 0.06)
- n is the number of compounding time periods (annually, so n=5 for 5 years)
F = 200*(1+.06)^5 = 267.65
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∙ 12y agoThis answer is:
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