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b. Calculate the amount to which the second P23,000 will grow using the compound interest formula F = P(1+1) F = 23,000(1+0.0075)​

Sagot :

Answer:

The mathematical formula for calculating compound interest, A=P(1+r/n)^nt, uses four simple numbers to allow you to see how much money plus interest you'll have after the number of time periods, or compound periods. 'A' represents the accrued amount of your principal plus interest, which is the total.

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