if the interest 1,280 has not been paid each year but had been allowed to compound, how much interest would be due to the lender as alumpsum at the end of the 8 th year?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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if the interest 1,280 has not been paid each year but had been allowed to compound, how much interest would be due to the lender as alumpsum at the end of the 8 th year?

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