Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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9. An investment of $15,000 earns 2.5% interest, compounded monthly.
a) How much will the investment be worth after 3.5 years?
b) How long will it take for the investment to reach $25,000?
c) Explain if you feel that this is a good investment to make.
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Transcribed Image Text:9. An investment of $15,000 earns 2.5% interest, compounded monthly. a) How much will the investment be worth after 3.5 years? b) How long will it take for the investment to reach $25,000? c) Explain if you feel that this is a good investment to make.
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