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23 October, 02:26

Scott invests $1000 at a bank that offers 6% compounded annually. Write an equation to model the growth of the investment.

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  1. 23 October, 04:52
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    You can use A=P (1 + (r/n)) ^ (nt)

    n=homany times it is compounded a year: 1 annually

    t=time in years

    r=rate: 6% or. 06

    A=Final Amount

    P=principle amount

    A=1000 (1 + (.06/1)) ^ (1*t)
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