The formula for finding compound interest is where A is the accumulated amount, P is the principal invested, r is the rate of interest, t is the time in years, and n is the number of compounds each year. Find the accumulated amount if the principal invested is $10,000, the rate is 12%, the compounds each year is 12 (monthly), and the
number of years is 6.
Correct Answer:
Verified
Q1: Evaluate: 5-1.2
A)-6
B)0.145
C)-6.899
D)2.44
Q3: Use the compound amount formula
Q4: The formula for finding the monthly
Q5: Evaluate: e-5
A)1
B)-148.4131591
C)1.221402758
D)0.006737947
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