How much will $5,000 invested at 3% interest be worth in 4 years if it is compounded

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How much will $5,000 invested at 3% interest be worth in 4 years if it is compounded annually? Quarterly? How much if the interest rate is 6%?

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Accounting Fundamentals For Health Care Management

ISBN: 9781284265200

4th Edition

Authors: Steven A. Finkler, David M. Ward, Thad Calabrese

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Question Posted: Feb 23, 2024 04:00 AM

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How much will $5,000 invested at 3% interest be worth in 4 years if it is compounded

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To calculate the future value of an investment we can use the formula for compound interest Future V...View the full answer

Accounting Fundamentals For Health Care Management

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