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Mathematics 62 Online
jacobstarnold:

The balance of an account earning compound interest is found using the formula a = p(1+r)^t, where p is the principal (the amount invested), r is the interest rate, and t is the time in years. What is the account balance after 6 years, if $1,000 is invested at 8%? Round your answer to the nearest whole number.

Vocaloid:

a = p(1+r)^t p is the principal amount invested (1000) r is the interest rate (as a decimal, 0.08) t is years (6) a is the account balance plug in p r and t, then evaluate for a

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