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Mathematics 15 Online
Kmhostetler:

Sara borrowed $500 for four years at 3 percent interest, compounded annually. Use the formula to calculate the total amount she will have paid back.

jhonyy9:

do you know this formula ?

Mercury:

A = P(1+r)^t for annuallly compounding interest, where A is the final amount, P is the principal (500), r is the interest rate as a decimal (0.03), and t is time (4 years). plug in the values and evaluate for A.

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