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Mathematics
Financial Mathematics
Compound Interest
A total of 8,000 dollars is invested at anunual interest rate of 1%. Find the balance after 1.5 years, if the interest is compounded annually.
using A=p(1+r/n)^nt
1 answer
If it is compounded at the end of each year, you only have one year there.
8,000 *1.01
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