Six years ago the farmer invested $3750 at a rate of 4% per year compound interest. (i) Calculate the total value of his investment after the 6 years. Give your answer correct to the nearest dollar.
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Answer:
amount equals to 4745 dollars approximately
step by step explanation
amount=principal(1+rate/100) whole to the power time
when solved we get is a amount as 4745 dollars approximately
if you want to find the compound interest then
compound interest equals to amount minus principal
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