Question

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Formula of Compound interest please!

Answer 1

Calculate Accrued Amount (Principal + Interest) A = P(1 + r)t

Answer 2

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If an amount of $5,000 is deposited into a savings account at an annual interest rate of 5%, compounded monthly, the value of the investment after 10 years can be calculated as follows... P = 5000. r = 5/100 = 0.05 (decimal). n = 12.

Also see in attachment

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