you deposit $15000 in a bank that its interest rate is 3% annual interest compounded annually ( note, you get interests only once a year). What would the balance be after 10 years.
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Step 1
In this formula: - A is the amount of money accumulated after n years, including interest. - P is the principal amount (the initial amount of money). - r is the annual interest rate (in decimal). - n is the number of times that interest is compounded per year. - Show more…
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