Asked by cassie wilson on May 27, 2024
Verified
Evaluate and calculate to the cent:
S1+rt\frac{S}{1+r t}1+rtS for S = $2,500, r = 0.085, t=123365t=\frac{123}{365}t=365123
Compound Interest
Interest calculated on the original principal and on previously calculated interest.
- Calculate simple interest and compound interest in financial mathematics.
Verified Answer
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Learning Objectives
- Calculate simple interest and compound interest in financial mathematics.