Suppose that $8500 is placed in an account that pays 11% interest compounded each year. Assume that no withdrawals are made from the account.

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asked Dec 14, 2018 92.2k views

1 Answer

Fenone · Answer 1 · 2018-12-19T20:05:54+0000

you can use the equation P(1+(n/t))^(n) to find the amount after time (t), given the starting amount(P) and the number of times compounded (n)