Eric bought a $1000 Canada Savings Bond that earns 5% a compounded annually. Eric can redeem the bond in 7 years. Determine the future value of the bond.

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07-06-2024
Mathematics

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Eric bought a $1000 Canada Savings Bond that earns 5% a compounded annually. Eric can redeem the bond in 7 years. Determine the future value of the bond.

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