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Can someone please help me?
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2 votes
Can someone please help me?

Can someone please help me?-example-1
User BigBadMe
by
4.8k points

1 Answer

6 votes

Answer:

$2000

Explanation:

The value of the savings account is

v(m) = 2000(1.005)^m

where m is the number of months.

Compare with the formula for compound interest,

F = P(1 + r)^(nt)

where P = principal amount invested.

Answer: $2000

User Paulo Neves
by
4.2k points
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