Examples. A friend asks to borrow $300 and agrees to repay it in 30 days with 3% interest. How much interest will you earn? Solution: ...
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compound interest example and answer
Compound interest graph: investing $1000 for 20 years at 5% interest ... Example. Let's say you want to invest $1000 at 5% interest, compounded annually. ... The answer is that money is a useful thing, and interest is the rent that the bank pays .... For this, we will need the future value formula for compound interest ... Solution: (1) For this example, we need to find out how much to put into the account now ( ... 939c2ea5af
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