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2 years ago

6

If you deposit 1000 in a savings account with an intrest rate of r compounded annually then the balance in the account after 3 y

ears is given by the function b(c)=1000(1+r) where is r written as a decimal?

1 answer:

deff fn [24]2 years ago

7 0

Answer:

3.23%

Step-by-step explanation:

The rate is acquired from 1100 = (1+r)^3 *1000. then r is equal to 3.23%.

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