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Sonbull
12 days ago
7

Fred's bank account balance started with 325$. he has an annual interest rate of 4% . he wants to know how much money he will ha

ve in his account in 12 years.
Mathematics
2 answers:
AnnZ [12.3K]12 days ago
5 0

Answer:

The equation (in t(n) notation) can be expressed as t(n) = 325(1.04) raised to the 12th power. Alternatively, you would obtain 520.34 if rounding up the half cent.

Step-by-step explanation:

The initial value is 325. The factor of 1.04 acts as the multiplier since the growth rate is 0.04, and including 1 is necessary to prevent a 96% decline each iteration.

babunello [11.8K]12 days ago
4 0

Answer:

481

Step-by-step explanation:

Calculating, 325 × 0.04 gives 13

Then, 13 (simple interest) multiplied by 12 (years) totals $156

$156 plus $325 results in 481

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