Determine how much is in the account on the basis of the indicated compounding after the specified years have passed; P is the initial principal, and r is the annual rate given as a percent. (Round your answer to the nearest cent.) P = $5700, r = 2.8%, compounded annually for 1 year.

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
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Determine how much is in the account on the basis of the indicated compounding after the specified years have passed; P is the initial principal, and r is the annual rate given as a percent. (Round your answer to the nearest cent.)

P = $5700, r = 2.8%, compounded annually for 1 year.
 
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