Chris owes $17,000 to a bank. The debt grows with 8% annual interest that compounds every year. How
2 answers:
i n t e r e s t
<h3>Total </h3>
Option C is correct
Answer:
18360
Step-by-step explanation:
A = P (1 + r/n)^(nt) where A is the amount in the account, P is the principle, r is the interest rate , n is the times compounded per year, t is the number of years
A = 17000 (1 + .08/1)^(1*1)
A = 17000( 1.08)^1
A = 18360
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