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Oliver deposited $1,640.70 in a savings account that earns 2.6% simple interest. What will Oliver's account balance be in 8 months?
Guest Feb 13, 2012
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 #1
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$1,640.70*(1.026^7)+$1,640.70*(1.026^6)+$1,640.70*(1.026^5)+$1,640.70*(1.026^4)+$1,640.70*(1.026^3)+$1,640.70*(1.026^2)+$1,640.70*(1.026^1)+$1,640.70*1.026=14774.09

-FITZ-
Guest Feb 13, 2012
 #2
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Guest:

$1,640.70*(1.026^7)+$1,640.70*(1.026^6)+$1,640.70*(1.026^5)+$1,640.70*(1.026^4)+$1,640.70*(1.026^3)+$1,640.70*(1.026^2)+$1,640.70*(1.026^1)+$1,640.70*1.026=14774.09

-FITZ-



that would be nice.., but that 2.6% is annually I guess..
[input]1640.70*(1+0.026*(8/12)))[/input]
admin  Feb 14, 2012

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