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Calculate, to the Nearest Cent, the Future Value of an Investment

question 24

Short Answer

Calculate, to the nearest cent, the future value of an investment of $12,000 at 0.4% per month, compounded monthly, after 8 years.

​FV​ = $ __________


Definitions:

Closed System

A physical system that does not exchange matter with its surroundings, though it may exchange energy.

Penetrating Radiation

Radiation that can penetrate through substances and materials, potentially causing ionization of atoms.

Gamma

A type of high-energy electromagnetic radiation, often associated with nuclear reactions and certain types of radioactive decay.

Ionizing Particles

Subatomic particles that carry enough energy to detach electrons from atoms or molecules, thereby ionizing them.

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