True. The compound interest formula calculates the total account value at the end of a specified time period, and to find the interest accrued, you need to subtract the principal from that total value.
The compound interest formula gives the total account value at the end of the time period. If we want to find the interest accrued during that time, we need to subtract the principal from that total. *Remember to use your STAAR Reference Sheet for support! (1 point) Responses True True False
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