To solve each problem, refer to the formulas for compound interest. A = r(1 + ) tn
Question:
To solve each problem, refer to the formulas for compound interest.
Find t to the nearest hundredth of a year if $1786 becomes $2063 at 2.6%, with interest compounded monthly.
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A = r(1 + )" tn tn A = P1 + and A = Pet
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Related Book For
College Algebra
ISBN: 978-0134697024
12th edition
Authors: Margaret L. Lial, John Hornsby, David I. Schneider, Callie Daniels
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