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Write an equation that represent the value of an 8700 investment that has 9.1% interest rate compounded yearly y=a(b)^x

Respuesta :

Answer:

future value = $8700(1.091)^x

Step-by-step explanation:

The formula for calculating future value:

FV = P (1 + r) n

FV = Future value  

P = Present value = 8700

R = interest rate = 9.1%

N = number of years  = x

future value = $8700(1.091)^x

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