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$1,100 at 8%, for 15 years, compounded annually. Total Amount = $ Interest Amount = $

Dana Keller

in Mathematics

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Cynthia Baker on February 22, 2018

The formula to find the total amount of isA=p (1+r)^tA the future value?P present value 1100R interest rate 0.08 T time of 15 yearsA=1,100×(1+0.08)^(15)A=3,489.39 To find the amount of the interest of the formula isI=A-pI=3,489.39-1,100 I=2,389.39


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