end2endmist end2endmist

20-02-2017
Mathematics

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A savings account accrues interest at a rate of 2.5% yearly. If someone opens an account with $1,000, what equation best describes the amount of money in that bank account after n years?

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Luv2Teach Luv2Teach

20-02-2017

Using the formula [tex]A=P(1+r) ^{n} [/tex] the equation would look like this:
A = 1,000(1.025)^n

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