Melanie saves $20 every month in her savings account. She withdrew $60 one time to go shopping. She now has $280 in her account.
2 answers:
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Answer:
Step-by-step explanation:
we know that
The compound interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
substitute in the formula above