Does the model below represent the problem, 3/7 x 1/9? Explain your answer.
1 answer:
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Answer:
A=$265.42
Step-by-step explanation:
The formula to apply here is;
where;
A=amount at the end
P=principal amount=$250
r=rate of interest=0.06%
n=number of compounding per year=12
t=total number of years=1