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aubreeadair98
aubreeadair98 aubreeadair98
  • 26-02-2017
  • Mathematics
Answered

Using the formula in model 1, choose the correct answers for the new balance and the amount of interest earned in the following compound interest problem. $650 at 8% for 14 years, compounded annually. Total Amount = $ Interest Amount =$

Verified Answer :

wolf1728
wolf1728 wolf1728
  • 26-02-2017

Total = Principal (1 + rate)^years
Total = 650 (1.08)^14
Total = 1,909.18

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