3 years ago

Find the balance in the account. $700 principal earning 5%, compounded monthly after 9 years

1 answer:

3 0

For SI

A = P ( 1+ RT )...... R = 5/100 FOR PERCENT

= $700 ( 1 + 5/100 × 9 )

= $700 ( 1+ 0.05×9)

=$700 ( 1+ 0.45)

= $700 × 1.45

= 1015

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