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Math

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1. you deposit $200 into a savings account with interest compounded. annually, the expression 200(1+R)^
2, where R is the interest rate, gives the account balance after 2 years. Expand this expression and simplify. Find the account balance if R=0.04.

THANKS!!!!! A LOT!!

  • Math - ,

    P = 200 (1+R)^n
    P = 200 (1.04)^2
    = $216.32

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