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Published byBrennan Leggett Modified over 3 years ago

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What is Interest? Interest is the amount earned on an investment or an account. Annually: A = P(1 + r) t P = principal amount (the initial amount you borrow or deposit) r = annual rate of interest (as a decimal) t = number of years the amount is deposited or borrowed for. A = amount of money accumulated after n years, including interest. n = number of times the interest is compounded per year (semiannually, quarterly, monthly, etc.)

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$600 @ 12% interest for 7 years

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$12,000 @ 5% interest for 8 years compounded… 1.Semiannually 2.Quarterly 3.Monthly

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FIND THE AMOUNT $750 @ 11% for 12 years $1500 @ 2.5% for 5 years Quarterly Monthly

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Understanding Interest Business Economics. Why Interest? Nothing in this world is free. Banks wouldn’t make money People wouldn’t make money Businesses.

Understanding Interest Business Economics. Why Interest? Nothing in this world is free. Banks wouldn’t make money People wouldn’t make money Businesses.

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