Please solve and explain 1/5x = 20 x = ?
1 answer:
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Answer:
$1,093.67 = $1,100 rounded to th next $100
Step-by-step explanation:
Final investment value
$1,093.67
Total interest earned
$273.67
Initial balance
$820.00
Total monthly deposits
$0.00
Effective Annual Rate (APY)
1.816%
The formula used in the compound interest calculator is A = P(1+r/n)^(nt)
A = the future value of the investment
P = the principal investment amount
r = the interest rate (decimal)
n = the number of times that interest is compounded per period
t = the number of periods the money is invested for
