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Anuta_ua [19.1K]
3 years ago
9

P (1+r)^n $750 at 7% for 9 years compounded annually Total amount= Interest amount=

Mathematics
2 answers:
Vladimir79 [104]3 years ago
7 0
A = 750(1+0.07)^9
A = $1378 

$1378 - $750 = $628

total amount = <span>$1378 
interest amount =</span><span> $628</span>
Vinvika [58]3 years ago
4 0

Answer with Step-by-step explanation:

Total amount = P(1+r)^n

Here, P=$750

r=7/100=0.07

n=9

Total amount=

750(1+0.07)^9\\\\=750\times 1.07^9\\\\=\$ 1378.8

Interest amount=Total amount-Initial amount

                         =1378.8-750

                        = $628.8

Hence,

Total amount=

$1378.8

Interest amount=$628.8

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