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Anastasy [175]
3 years ago
11

Urgent

Mathematics
1 answer:
agasfer [191]3 years ago
6 0

$482.11 in interest

Use the compound amount formula.  Calculate the compound amount and then subtract the principle to find the amount of interest earned.

A = P(1 + r)^t, where r is the interest rate as a decimal fraction

This becomes:

A = $575(1 + 0.07)^9, or A = $1057.11.

Subtracting the principal:  A - P:  $1057.11 - $575 = $402.11

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