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Ilia_Sergeevich [38]
4 years ago
10

What is the formula for finding the final balance of an account that earns interest compounded annually? State what each variabl

e in the formula represents.
Mathematics
1 answer:
Schach [20]4 years ago
5 0
C=P[(1+r)^n-1]
C = COMPOUND INTEREST
P = PRINCIPAL 
r = rate per period
n = number of periods
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We know that,

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