Lena L.
asked • 05/30/203400 dollars is placed in an account with an annual interest rate of 7.5%. How much will be in the account after 17 years, to the nearest cent?
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1 Expert Answer
A = P ( 1 + r) t
A is the final amount
P is principle
r is interest rate
t = time in years
A = 3400 ( 1 + .075)17
$11,625.80
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Mark M.
Is this simple or compound interest?05/31/20