# Help with Geometric Sequence?

Daria invests $3000 in a mutual fund. On average, the mutual fund earns 9%/yr compounded annually.

How much interest can Daria expect to earn after 10 yr?

### 3 Answers

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- Wayne DeguManLv 74 months ago
Our compounding figure is 1.09ⁿ

so, after 10 full years we have:

$3000 x (1.09)¹⁰ = $7102.09

Hence, interest is $4102.09

:)>

- AmyLv 74 months ago
The value after 10 years will be $3000 * (1 + 9%)^10

Subtract the original $3000 and you get roughly $4000 of interest.

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