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9 October, 21:03

future value = P * (1 + i) t '"present value" = "P" / (1 + i) ^"t"' You want to deposit $12,000 in a bank at an interest rate of 8 percent per year. What is the future value of this money after five years?

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  1. 9 October, 22:09
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    I believe the answer is $17,631.94

    Step-by-step explanation:

    12000 (1.08) ∧5=17,631.94
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