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Use the Compound Amount Formula A=P(1+rn)ntA = P \left( 1 + \frac { r } { n } \right) ^ { n t }

Question 30

Multiple Choice

Use the compound amount formula A=P(1+rn) ntA = P \left( 1 + \frac { r } { n } \right) ^ { n t } to find the accumulated amount on an investment of $1,500\$ 1,500 invested at an interest rate of 10%10 \% for 18 months, if the interest is compounded weekly.


A) $9,058.80
B) $1,795.52
C) $1,552.78
D) $1,742.50

Correct Answer:

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