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Ms. Montgomery invested $800 at 8% simple interest at the beginning of each year for a period of ten years. Find the total accumulated value of all the investments at the end of the 10-year period.

 Apr 22, 2022
 #1
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End of year:

   Principal       Interest Rate      Interest earned

1 - $800               8%                      $64

2 - $1,600            8%                      $128

3 - $2,400            8%                      $192

4 - $3,200            8%                      $256

5 - $4,000            8%                       $320

6 - $4,800            8%                       $384

7 - $5,600            8%                       $448

8 - $6,400            8%                       $512

9 - $7,200            8%                        $576

10-$8,000            8%                        $640

Principal + Interest earned over a period of yeas at 8% simple interest=$8,000 + $640==$8,640

 

P.S. This is exactly the same as investing $8,000 at 8% simple interest for 1 full year.

 Apr 22, 2022
 #2
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That is wrong, sorry, I don't know how to start

 Apr 22, 2022

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