True or false: The formula An = 1000 + 30n can be used to calculate the final amount in an investment account that pays 0.3% simple interest pa on a capital sum of $1000.

Personal Finance
13th Edition
ISBN:9781337669214
Author:GARMAN
Publisher:GARMAN
Chapter1: Understanding Personal Finance
Section: Chapter Questions
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True or false: The formula An = 1000 + 30n can be used to calculate the final amount in an investment account that pays 0.3% simple interest pa on a capital sum of $1000.

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