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kompoz [17]
3 years ago
11

URGENT!! Use the compound interest formula A = P(1 + i)^n. Evaluate,

Mathematics
1 answer:
iren [92.7K]3 years ago
8 0

Answer:

$38,025.04

Step-by-step explanation:

First, convert R as a percent to r as a decimal

r = R/100

r = 8.4/100

r = 0.084 rate per year,

Then solve the equation for A

A = P(1 + r/n)nt

A = 1,200.00(1 + 0.084/2)(2)(42)

A = 1,200.00(1 + 0.042)(84)

A = $38,025.04

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