anonymous
  • anonymous
how much would be in the account if you deposited 1500 for a period of 18 months at a rate of 8% per year
Mathematics
chestercat
  • chestercat
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regan
  • regan
compounded annualy?
anonymous
  • anonymous
by A=Pe^rt ??
anonymous
  • anonymous
I'm assuming monthly given the 18 month figure. .08/12 = 0.6% monthly rate. Then it becomes a compounding problem of $1500*monthly rate = month 1 etc

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anonymous
  • anonymous
month 1 being the accrued interest, +$1500 for new balance.
regan
  • regan
ok rate = 0.08 time =1.5 p= 1500
anonymous
  • anonymous
thank uuuuuu

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