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anonymous
 one year ago
How much compound interest is earned on $1500 at 3% interest for 2 years, compounded annually? Give your answer in dollars and cents. Don’t forget to subtract P from A.
Compound Interest
anonymous
 one year ago
How much compound interest is earned on $1500 at 3% interest for 2 years, compounded annually? Give your answer in dollars and cents. Don’t forget to subtract P from A. Compound Interest

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anonymous
 one year ago
Best ResponseYou've already chosen the best response.0so you know that p=1500 and r=.03 and n=1 cuz annually is 1 year and t=2...so now substitute

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0btw you dont subtract P from A..you cant do that...cuz your finding A

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0you should have multiplied 1500(1.03)^2

anonymous
 one year ago
Best ResponseYou've already chosen the best response.01.03^ is 1.03*1.03 right?

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0yup make sure you put $

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0okay thanks again for the help:)
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