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20 January, 02:10

Write a compound interest function to model the following situation. Then, find the balance after the given number of years.

$17,400 invested at a rate of 2.5% compounded annually; 8 years

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  1. 20 January, 06:00
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    Y=17400 (1+0.025) ^8 is your equation and with that you get $21200.21
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