For a total accumulated amount of $3586.58, a principal of $2000, and a time period of 5
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For a total accumulated amount of $3586.58, a principal of $2000, and a time period of 5 years, use the compound interest formula to find r if interest is compounded monthly.
Compound InterestCompound interest (or compounding interest) is interest calculated on the initial principal, which also includes all of the accumulated interest from previous periods on a deposit or loan. Thought to have originated in 17th century Italy, compound...
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p 2000 A 358658 n 12 t 5 35...View the full answer
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Related Book For 
A Survey of Mathematics with Applications
ISBN: 978-0134112107
10th edition
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
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