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frutty [35]
1 year ago
9

you have 300,000 saved for retirement. your account earns 6% interest. How much will you put out each month

Business
1 answer:
Marat540 [252]1 year ago
5 0

$2727

What is compound interest?

Compound interest, also known as interest on principal and interest, is the adding of interest to the principal amount of a loan or deposit. It occurs when interest is reinvested, or added to the loaned capital rather than paid out, or when the borrower is required to pay it, so that interest is generated the next period on the principal amount plus any accumulated interest. In finance and economics, compound interest is common.

In contrast to simple interest, which does not compound since past interest is not added to the principal for the current period, compound interest allows interest to build over time. The interest per period multiplied by the number of periods in a year yields the simple annual interest rate.

Learn more about compound interest with the help of given link:-

brainly.com/question/18456266

#SPJ4

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5 0
1 year ago
According to the Lewis two-sector model the creation of a Modern (urban) Sector will:
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