Question
Asked Apr 29, 2019
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Assume $3000 is invested at 8%. Find a model for the growth of this investment, if the interest is compounded annually, and compute the yield. 

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Expert Answer

Step 1

Given information:

Assume $3000 is invested at 8%.

Step 2

Calculation:

P=$3000

r=8%=0.08

n=1 (compunde...

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Algebra

Applications of Mathematics

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