Some financial institutions pay daily interest, compounded by the 360/365 method, using the formula
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(t is in years). Using this method, what will an initial investment of $1,500 be worth in 6 years, assuming a 8% annual interest rate?
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Please enter your answer as a number without the units, rounded to the nearest hundredth.

Fill in the blank(s) with the appropriate word(s).


2,440.19

Mathematics

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