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Find the balance in a $900 interest account after 10 years if the interest rate is 4.62%, compounded annually. $1,413.81 $941.58 $415.80 $4,158.00
asked
Dec 6, 2018
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Find the balance in a $900 interest account after 10 years if the interest rate is 4.62%, compounded annually.
$1,413.81
$941.58
$415.80
$4,158.00
Mathematics
middle-school
Pherrymason
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The formula is
A=p (1+r)^t
A future value?
P present value 900
R interest rate 0.0462
T time 10 years
A=900×(1+0.0462)^(10)
A=1,413.81
Olovholm
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Dec 13, 2018
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Olovholm
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