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8 April, 10:52

If you deposit 1000 in a savings account with an intrest rate of r compounded annually then the balance in the account after 3 years is given by the function b (c) = 1000 (1+r) where is r written as a decimal?

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  1. 8 April, 12:46
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    3.23%

    Step-by-step explanation:

    The rate is acquired from 1100 = (1+r) ^3 * 1000. then r is equal to 3.23%.
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