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August 30, 2014

August 30, 2014

Posted by **Natalie** on Thursday, March 6, 2008 at 7:17pm.

- math -
**Reiny**, Thursday, March 6, 2008 at 7:39pmthe commonly used compound interest formula

Amount = Principal(1+i)^n is actually an exponential equation.

In your case

Principal = 350

i = .095 and

n = 6

so Amount = 350(1.095)^6

= $603.33

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