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Mary invests $2500 at a rate of 7 1/2% . What will her balance be at the end of three years?
If she invests 2500 with an annual rate of 0.075 then the equation to use will be FV = PV(1+I)^N Where FV = future value Pv = present value I = interest rate N = number of compounding periods So fv = 2500(1+0.075)^3 Using online calc Fv= $3105.74
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