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Use the compound interest formulas
53. Find the accumulated value of an investment of $10,000 for 5 years at an interest rate of 5.5% if the money is a. compounded semiannually; b. compounded quarterly; c. compounded monthly; d. compounded continuously.
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EBK COLLEGE ALGEBRA ESSENTIALS
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- ing 2021 Mock STAAR Algebra 1- Day 2 CALCULATOR • COLOR THEME Q Q ZOOM O ADD NOTE O QUESTION GU 0. A bank account earning annual compound interest was opened, and no additional deposits or withdrawals were made after the initial deposit. The balance in the account after x years can be modeled by b(x) = 850(1.025)* The initial balance of the account was $1,025. Which statement is the best interpretation of one of the values in this function? The balance in the account at the end of one year is $850. The balance in the account increases at a rate of 2,5% each vear. The initial balance of the account decreases at a rate of 97.5% each year. CLEAR ALL ( PREVIOUS NEXT > REVIEW & SUBMIT 24 ... Sign out Ovi 8:15 -> %23 %24 & bac 8. e y i tab W d f g CVb n hift ctrlarrow_forwardIs this table linear or exponential? 4 8. 12 3. 16 1. 2.arrow_forwardM 6. log.arrow_forward
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