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artcher [175]
3 years ago
6

You invest $1,200 in an account that pays an interest rate of 7.25%, compounded continuously.

Mathematics
2 answers:
hammer [34]3 years ago
6 0
The answer is $1,809.00.

Explanation:

To calculate interest rate, you must multiply the decimal version of the percentage by the original number. 7.25% as a decimal is equivalent to 0.0725, so multiplying that by 1,200 = 87. Now we must multiply that by 7 to find the amount after 7 years. The product is 609, or $609. Now we add that amount to the original number (1,200). The sum is 1809, $1,809. Therefore, your total balance after 7 years is $1,809.

Hope I helped and good luck!
evablogger [386]3 years ago
4 0
Compounded would equal $1,958.67
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bezimeni [28]
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An items is regularly priced at $20. Keisha bought it on sale for 40% off the regular price. How much did Keisha pay?
nirvana33 [79]

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3 years ago
A survey finds that 55 people out of 170 favor increasing property taxes to help pay for a new library. If this data is used to
Aloiza [94]

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Step-by-step explanation:

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