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OpenStudy (anonymous):
What is the total amount that Matthew's bank will receive after lending him $8,000 for four years at an interest rate of 6 percent, compounded annually?
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OpenStudy (nottim):
What's the formula for compound interest?
OpenStudy (nottim):
(I honestly do not know/remember)
OpenStudy (anonymous):
total amount = P (1 + i)t
OpenStudy (anonymous):
plug the numbers in and you get your answer
OpenStudy (nottim):
The baby is right.
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