, with A representing the end amount, r representing the interest rate, and n representing the amount of times compounded. We know that the interest rate is 9% (to convert this to a decimal, we can divide it by 100, resulting in 0.09), the end amount is 700, and the amount of times compounded is however many months are in 2 years (there are 12 months per year, and 12 *2 = 24, so 24 times).
I’m struggling in finding the nearest cent, May you please help me
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Mathematics, 22.06.2021 22:30 Joseph17Peralta
I’m struggling in finding the nearest cent, May you please help me
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