True
The compound interest formula gives the total amount in the account at the end of a time period. To find the interest accrued, you subtract the principal (the initial amount) from this total.
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 False
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