anonymous
  • anonymous
What is the principal balance if the principal plus interest at the end of 1.5 years is $3,360 at an annual interest rate of 8%?
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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katieb
  • katieb
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anonymous
  • anonymous
is this simple interest or compounded interest?
anonymous
  • anonymous
if it is compounded interest use this formula \[Future Worth=Present Worth(1+i)^{n}\] where i is the interest and n is the number of years If it is simple interest \[Future Worth=PresentWorth*i*n\]
anonymous
  • anonymous
for simple interest \[Interest=PresentWorth*i*n\] so \[FutureWorth=PresentWorth+Interest\] sorry please disregard my formula for simple interest in my first post

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goformit100
  • goformit100
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