a bank account balance for an account with an initial deposit of P dollars earns interest at an annual rate of r. The amount of money in the account after n years is described using the follwoing expression P (1+r). What effect, if any, does increasing the value of r have on the amount of money after n years?
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Home » Business » a bank account balance for an account with an initial deposit of P dollars earns interest at an annual rate of r. The amount of money in the account after n years is described using the follwoing expression P (1+r).