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If you invest $1000 today in a savings account that pays 3% annually what will be the Future Value of this amount in 10 years
12 years ago

Answers

Ms. Sue
I = PRT
I = 1,000 * 0.03 * 10
I = ?

Add the interest to 1,000 to find the future value.

12 years ago
Reiny
Ms Sue did the question using simple interest.

Since you did not specify which type is used, here is the compound interest result

amount = 1000(1.03)^10 = ...
12 years ago

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