calculate the amount and compound interest
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Step-by-step explanation:
First, convert R as a percent to r as a decimal
r = R/100
r = 12.5/100
r = 0.125 rate per year,
Then solve the equation for A
A = P(1 + r/n)nt
A = 5,120.00(1 + 0.125/1)(1)(2.5)
A = 5,120.00(1 + 0.125)(2.5)
A = 6,873.08
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