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Mathematics
Tutor: None Selected Time limit: 1 Day

Jun 5th, 2015

Thank you for the opportunity to help you with your question!

The formula for annual compound interest is A = P (1 + r/n) ^ nt:

Where:

A = the future value of the investment/loan, including interest
P = the principal investment amount (the initial deposit or loan amount)
r = the annual interest rate (decimal)
n = the number of times that interest is compounded per year
t = the number of years the money is invested or borrowed for

A=213(1+0.029/12)^12X32

=224,781.61

Please let me know if you need any clarification. I'm always happy to answer your questions.
Jun 5th, 2015

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Jun 5th, 2015

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Jun 5th, 2015

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