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An Investment Is Originally Worth $17,000 and Its Worth Increases

Question 55

Essay

An investment is originally worth $17,000 and its worth increases by a factor of 1.006 each month.
A) Find a formula that gives the investment's worth , W, as a function of the months, m, since the original investment.
B) Use the formula to find the worth of the investment after 16 months.Round your answer to the nearest cent.

Correct Answer:

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B. $ ...

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