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4 August, 14:23

Suppose Alonzo places $ 3500 in an account that pays 17 % interest compounded each year. Assume that no withdrawals are made from the account

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  1. 4 August, 14:47
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    Are you trying to find how much money he gets after a year?

    If so, you set up A = P (1+r) ^t which would be 3500 (1.17) ^1 which is $4095
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