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3 June, 18:58

Rhonda deposited $3000 in an account in the merrick national bank earning 4.2% interest, compounded annually. She made no deposits or withdrawals. Write an equation that can be used to find B, her account balance after t years

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  1. 3 June, 21:56
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    B = P x (1 + R) ^t

    P = Staring Amount

    R = Interest Rate

    T = Time

    B = Balance

    B = $3000 x 1.042^t
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