Problem solving?
Sumi Kato’s savings account has a balance of $678. After 23 years, what will the amount of interest be at 3.5% compounded annually?
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Future amount=(1. 035)^23*($678)
Future amount=$1495.75
i=$1495.75-678.00
i=$817.75
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Amount of interest will be 817.75 , for a total balance of1495.75
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Bedbye is right!
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WHAT HE SAID ^^
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