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Solnce55 [7]
3 years ago
11

You put $200 into an account earning 6% interest compounded yearly.

Mathematics
1 answer:
andrey2020 [161]3 years ago
3 0

Answer:

  • y = 200(1.06)^x

Step-by-step explanation:

<u>Given:</u>

  • Initial amount = 200
  • Interest rate = 6% or 0.06 times
  • Number of compounds = 1
  • Number of years = x

<u>Final amount is:</u>

  • y = 200(1 + 0.06)^x ⇒
  • y = 200(1.06)^x
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