Evaluate each expression for the given values of the variables. SHOW ALL WORK.
1 answer:
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Answer:
1. $361800
Step-by-step explanation:
Given,
principle balance=$670
interest rate=8%
A= Final amount
P= initial Principal balance
r= interest rate
n= number of times interest applied per time period
t= number of times period elapsed
compound interest formula,
Therefore the Present value is $361800