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Help me !!!!!!!!!!!!!!!!!!!!!

Help me !!!!!!!!!!!!!!!!!!!!!-example-1
User SidC
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Answer:

Explanation:

Given a formula for the balance in an account earning compound interest, you want the balance after 4 years when the principal invested is $500, the interest rate is 11%, and compounding occurs once per year.

Evaluation

For P=500, r=0.11, n=1, t=4 the formula is ...

A = 500(1 +0.11/1)^(1·4)

A = 500(1.11^4) = 500(1.51807041) ≈ 759.04

There will be $759.04 in the account after 4 years.

User ZAlbee
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