Find the compound amount for the deposit and the amount of interest earned. $740 at 4.2% compounded

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Find the compound amount for the deposit and the amount of interest earned. $740 at 4.2% compounded semiannually for 15 years

The compound amount (future value) can be calculated using the compound interest formula: A = P (1+1) nt

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Dec 10, 2023 08:13 AM

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Find the compound amount for the deposit and the amount of interest earned. $740 at 4.2% compounded

Question:

The compound amount (future value) can be calculated using the compound interest formula: A = P (1+1) nt The compound amount (future value) can be calculated using the compound interest formula: A = P (1+1) nt

Expert Answer:

To find the compound amount and the amount of interest earned we will use the compound interest form... View the full answer

Income Tax Fundamentals 2013

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