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kaiyah2021
04.12.2020 •
Mathematics
The amount of interest earned every year with compound interest is constant.
true or false
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Ответ:
8.8%
Step-by-step explanation:
We first divide the new amount by the original and close it with brackets.
Our one year will be shown as 1/1 as an indices
(761.60/700)^1/1
= 1.088
We then convert it to 0.088 and times it by 100.
0.088×100= 8.8% Compound interest rate.
This is correct as:
700×1.088= 761.6
Have a nice day! :)