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26-10-2022
Business

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Use the chart below for calculating compound interest
annually:
Year
1
2
3
Beginning
Balance
$500
$525
$551.25
Interest (5% or .05)
$25
($)
$27.56
Ending
Balance
$525
$551.25
$578.81
The interest earned in Year 2, the missing amount in the chart,
is calculated with which of the following equations?

Use the chart below for calculating compound interest annually Year 1 2 3 Beginning Balance 500 525 55125 Interest 5 or 05 25 2756 Ending Balance 525 55125 5788 class=

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