Use the compound interest formula to compute the accumulated amount and the interest earned. Time Rate Principal

Question:

Use the compound interest formula to compute the accumulated amount and the interest earned.

Time Rate Principal Compounded a) b) 2 years $7500 3% Quarterly Monthly 3 years 6.5% $2500

Compound Interest
Compound 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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