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

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Use the compound interest formula to compute the total amount accumulated and the interest earned. Round all answers to the nearest cent.


$8000 for 2 years at 4% compounded daily (use n = 360).

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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A Survey of Mathematics with Applications

ISBN: 978-0134112107

10th edition

Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde

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