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27 February, 02:18

If $10,000 is invested at an interest rate of 3.5% each year, what is the value of the investment in 7 years? Write an exponential function and solve.

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  1. 27 February, 03:25
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    Total = Principal * (1 + rate) ^years

    Total = 10,000 * (1.035) ^7

    Total = 12,722.79
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