You invest an initial $1,000 in an account that has an annual interest rate of 2

Mathematics
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You invest an initial $1,000 in an account that has an annual interest rate of 2.5%, compounded annually. How much money will you have in the account after 6 years? Round your answer to the nearest whole number.

Feb 27th, 2015

1000*(1.025)^6=1159.693 

Answer: $1,160

Feb 27th, 2015

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