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August 21, 2014

Homework Help: ALGEBRA

Posted by MONICA on Wednesday, November 23, 2011 at 12:13pm.

Find the ending balance in an account that opens with $3,180, earns 11.5% interest compounded monthly, and is held for 20 years. (Round your answer to the nearest cent.)
B=p(12+r)^n
B=3,180(12+0.95)^20
B=1,759.52
Is this correct if not, can someone help me with the steps.

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