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OpenStudy (anonymous):
WHAT IS THE ANNUAL COMPOUND RATE FOR AN INVESTMENT ACCOUNT MODELED BY THE FUNCTION y=12*1.18^(x) A. 0.18% B. 12% C. 18% D. 118%
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OpenStudy (anonymous):
18%
OpenStudy (anonymous):
formula is A=P(1+r)^x for x years where r is a decimal. Here 1+r = 1.18 making r = .18 = 18%
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