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April 1, 2015

April 1, 2015

Posted by **Cassie** on Thursday, April 2, 2009 at 7:19pm.

Here is the standard equation I was taught:

(1 + r/100m)^nm ($k)

r-- interest rate

m--how many times compounded a year

n--number of years

k--dollars invested

How would I figure out this problem, preferably using the equation above?

Thank you!

- Algebra -
**Alan**, Thursday, April 2, 2009 at 8:19pmtake the interest rate divided by (100 times the compounded) add one take that answer to the (number of years times teh compound) multiply this entire total times money times dollars invested

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