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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 279
Use M = P (1 + RT ) where M = maturity value, P = principal or loan amount, R = annual interest rate written as a decimal, and T = time in years.
SAVING John Wood had $4560 in his retirement account after 2 years. The account paid 7, (or.07) per year. How much did John initially deposit in his account?
[ M = P (1 + RT )] _____
SAVING John Wood had $4560 in his retirement account after 2 years. The account paid 7, (or.07) per year. How much did John initially deposit in his account?
[ M = P (1 + RT )] _____
Explanation
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Given, Mr. Wood had $4560 in his account...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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