what is an equation for this?
Noah deposits $20 in a savings account at the beginning of January and makes no more deposits. The bank adds interest to his account at a rate of 1.2% per month.
m=month
a=amount
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what is an equation for this?
Noah deposits $20 in a savings account at the beginning of January and makes no more deposits. The bank adds interest to his account at a rate of 1.2% per month.
m=month
a=amount
P=principal, r=rate of interest, n=number of compoundings in one year. In this case, 12.
t=time invested.
Is the amount in the bank after one year.
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