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09-01-2021
Mathematics

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What is the compound interest on investing $600 for 3 years at 7% per annum?

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ArmyNim ArmyNim

09-01-2021

Answer:

About $735.03

Step-by-step explanation:

The compound interest formula is A=P(1+r/n)^nt

P is the original amount (principal)

r is the rate

n is the number of times compounded (1 for this one since it is annual)

and t is the time compounded

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