SR 2,634 was deposited in a savings account that pays 10 percent interest compounded annually. How much will at the end of the 21-year period, if a withdraw of SR 1,011 at the end of the year 8 was made?
Added by Todd J.
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To calculate the amount after 8 years, we can use the formula for compound interest: A = P(1 + r/n)^(nt), where A is the final amount, P is the principal amount (initial deposit), r is the annual interest rate (as a decimal), n is the number of times interest is Show more…
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