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3 years ago

14

Using the formula in model 1, choose the correct answers for the new balance and the amount of interest earned in the following

compound interest problem. $650 at 8% for 14 years, compounded annually. Total Amount = $ Interest Amount =$

1 answer:

poizon [28]3 years ago

5 0

Total = Principal * (1 + rate)^years
Total = 650 * (1.08)^14
<span>Total = 1,909.1</span>8

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