Mathematics, 06.11.2020 17:30 leeahnnfoster
Karishma deposits $350 in a savings account with an interest rate of 5% compounded twice per year.
She knows that she should use the compound interest formula for this situation, where Po is the initial deposit, is the interest rate, n
is the number of times the interest is compounded per year, and t is the number of years.
P = Po (1 + )"
Which equation could she use to calculate the number of years it will take the value of the account to reach $700?
Answers: 2
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Karishma deposits $350 in a savings account with an interest rate of 5% compounded twice per year....
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