alohaynaa alohaynaa

19-03-2021
Mathematics

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You deposit $8,500 into an account that pays 3.2% annual interest. Find the balance after 8 years when the interest is compounded monthly.

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isazczhe isazczhe

19-03-2021

Answer:

10676

Explanation:

3.2% per annum = 3.2% × 8500

= 272

272×8yrs = 2176

2176+8500= 10676

check ur ans if mines correct

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