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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.

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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