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business math

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Manually calculate the compound interest on an investment of $8500 at 6% interest, compounded semiannually, for 18 mo.

  • business math -

    Manually, like with pencil and paper?

    Interest= 3*8500*.03 + 8500*.03^2 + 8500(.03^3)=772.88

    That is a lot of multiplying manually.

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