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Compound interest If $P is invested for n years at rate i (as a decimal), compounded annually, the future value that accrues is given by S = P(1 + i)n , and the interest earned is I = S - P. $1800 for 7 years at 10%

Compound interest If $P is invested for n years at rate i (as a decimal), compounded annually, the future value that accrues is given by S = P(1 + i)n , and the interest earned is I = S - P. $1800 for 7 years at 10%

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section7.7: Writing Exponential Functions
Problem 8CYU
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Compound interest If $P is invested for n years at rate i (as a decimal), compounded annually, the future value that accrues is given by S = P(1 + i)n , and the interest earned is I = S - P.

$1800 for 7 years at 10%

 

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