Asked by bianca whiteley on May 12, 2024
Verified
Evaluate the answer correct to the cent:
$3000(1+0.04×285365)\$ 3000\left(1+0.04 \times \frac{285}{365}\right)$3000(1+0.04×365285)
Compound Interest
Accumulated interest on a loan or deposit determined by including both the initial principal amount and the interest accumulated over preceding periods.
- Deploy mathematical ideas within the context of finance to address practical problems.
- Comprehend how different time spans and interest rates influence financial equations and computations.
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Learning Objectives
- Deploy mathematical ideas within the context of finance to address practical problems.
- Comprehend how different time spans and interest rates influence financial equations and computations.
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