Using the expression above, choose the correct answers for the new balance and the amount of interest earned in the following co
mpound interest problem.
$850 at 8% for 8 years, compounded annually.
Total Amount = $
Interest Amount = $
2 answers:
Total amount $1573
Interest amount $723
Total amount after 8 years is $1,573.29 and the interest earned is $723.29
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