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Use the compound interest formula to compute the total amount accumulated and the interest earned. $3500 for 4 years at 1.1% compounded monthly The total amount accumulated aft…
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Use the compound interest formula to compute the total amount accumulated and the interest earned. $3500 for 4 years at 1.1% compounded monthly The total amount accumulated aft…
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Jun 23, 2018
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Use the compound interest formula to compute the total amount accumulated and the interest earned.
$3500 for 4 years at 1.1% compounded monthly
The total amount accumulated after 4 years is
?
(Round to the nearest cent as needed.)
Mathematics
high-school
Vishan
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A=3,500×(1+0.011÷12)^(12×4)
A=3,657.36
Interest earned
=3657.36-3500=157.36
Danijela
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Jun 28, 2018
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