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$12,000 is invested n a savings account paying 10.5% interest per year. Write the formula for the amount in the

account after t years assuming that the interest is compound monthly.

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P ( t ) = 1 2 0 0... View the full answer

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Effective annual interest rate: i a = (1 + r/n) n - 1 i a = effective annual interest rate r =... View the full answer

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