Which ordered pair is not a point on the graph of y = 1/2 x - 7?
2 answers:
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The formula for compound interest is given by :
A=P(1+r/n)^(nt)
Here we are given that
P=50000
time(t) = 20 years
rate =7%=0.07
n=365 ( daily)
Plugging in the values in the given formula we get
Answer : A=202732.78381....