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Suppose your parents deposited $1500 in an account paying 3.5% interest compunded annually(once a year) when you ere born. Find the account balance after 18 years.

So how do you plug all this information into this formula: B=p(1+r)^x?

3 answers

evaluate
B = 1500(1.035)^18

thanks

why are the two formulas for finding compund interest: B=p(1+r)^x and y=a*b^x acually the same?

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