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If an $1000 investment earns 8% interest each year, then what is the common ratio r for the progression? Savings balance = $1000r^y where y is the number of years

If an $1000 investment earns 8% interest each year, then what is the common ratio r for the progression? Savings balance = $1000r^y where y is the number of years
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If an $1000 investment earns 8% interest each year, then what is the common ratio r for the progression? Savings balance = $1000r^y where y is the number of years

User Xarn
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Answer: $1000x1.08^y
User Nyaa
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