The formula for compound interest is:
Where:
A = the future value of the investment (in...
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Mathematics, 18.03.2021 09:20, Maryllen
The formula for compound interest is:
Where:
A = the future value of the investment (including interest)
P = the principal investment amount (the initial deposit amount)
r = the annual interest rate (decimal)
n = the number of times that interest is compounded per year
t = the number of years the money is invested for
If Josh invests $500 in a 5-year fixed interest savings bond that pays 5% per annum, how much will his entire investment be worth at the end of the term?
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Answers: 2
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