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lukranit [14]
3 years ago
11

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 =$
Mathematics
2 answers:
Sedbober [7]3 years ago
8 0
A=p(1+r)^t
A=650×(1+0.08)^(14)
A=1,909.18
Interest earned=a-p=1909.18-650=1,259.18
erica [24]3 years ago
6 0
Total Amount = $ <span>1,909.18</span>
<span>Interest Amount =$ </span><span>1,259.18</span>
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