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Calculate to the nearest cent the future value of an investment of 40000 at 1%/year compounded anually after 11 year

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2 Answers

40000(1.01)^11 = $44626.73

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Attn: 40000 + 40000*1% = 40000(1.01)

A = P e^kt

   = (40000) e^(.01)(11)

   =  44651.12