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To what amount will ​$5,200 invested for 9 years at 11 percent compounded annually​ accumulate? ​$5,200...

To what amount will ​$5,200 invested for 9 years at 11 percent compounded annually​ accumulate?

​$5,200 invested for 9 years at 11 percent compounded annually will accumulate to ​$________(Round to the nearest​ cent.)

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Answer #1

The accumulated value is calculated below:

Accumulated value = 5, 200 x (1 + 0.11)

Accumulated value = 5, 200 x 2.558036

Accumulated value = 13, 301.79

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