What will be the change in a sum of money compounded annually at 20% for 3.5 years? 51%76%90%68%
Question
Solution 1
To calculate the change in a sum of money compounded annually at 20% for 3.5 years, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where: A = the final amount P = the principal amount (initial sum of money) r = the annual interest rate (as a decimal) n = the number of times inte Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
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