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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.
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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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