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22-09-2022
Mathematics

Answered

On olga's 16th birthday, her uncle invested $2,000 in an account that was locked into a 1.75% interest rate, compounded monthly. how much will olga have in the account when she turns 18? round to the nearest cent. the answer is not $2,071.19 the formula is b=p(1+r/n)^nt b = ending balance p = original balance r = interest rate expressed as a decimal n = number of times interest is compounded annually t = time in number of year

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