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19 April, 10:11

Using the formula in model 1, choose the correct answers for the new balance and the amount of interest earned in the following compound interest problem. $650 at 8% for 14 years, compounded annually. Total Amount = $ Interest Amount = $

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  1. 19 April, 12:36
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    Total = Principal * (1 + rate) ^years

    Total = 650 * (1.08) ^14

    Total = 1,909.1 8
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