Question

Asked Oct 20, 2019

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find the interest earned principle 8000 rate .06 compounded annually years 3

Step 1

The formula to calculate accumulated value is given below:

Step 2

Substitute $8,000 for principle value, 0.06 for *i *and 3 for *n*,

Step 3

The interest earned over three year can be calculated by taking the difference of accum...

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