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OpenStudy (anonymous):
A customer deposits $12,700 into an account. His account will earn an interest rate of 8.8% compounded semiannually for 1 year. How do you set up the problem using the formula A=P(1+r)t (t is an exponent)
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OpenStudy (anonymous):
Semiannually means twice a year so t=2. P is the original amount of money. R is the interest rate 0.088. A is the final amount you are looking for.
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