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Shawn has a bank account with $3,069. He decides to invest the money at 3.25% interest, compounded annually. How much will the investment be worth after 5 years? Round to the nearest dollar.

Respuesta :

The value of his investment at the third year is
F (3)=300×(1.02)^(3)=318.36

The value of his investment at the fifth year is
F (5)=300×(1.02)^(5)=331.22

The average rate of change of the value is
(331.22−318.36)÷2 years=6.43 per year

Answer:

3085

Step-by-step explanation:

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