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13 July, 01:54

How much would $1, growing at 3.5% per year, be worth after 75 years? a. $12.54b. $13.20c. $13.86d. $14.55e. $15.28

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  1. 13 July, 05:00
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    The correct answer is B.

    Explanation:

    Giving the following information:

    How much would $1, growing at 3.5% per year, be worth after 75 years?

    We need to use the following formula to calculate the final value:

    FV = PV * (1+i) ^n

    PV = present value

    n = number of years

    FV = 1 * (1+0.035) ^75

    FV = $13.20
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