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Vijay Singh chauhan Asked a Question
April 22, 2022 1:00 pmpts 30 pts
You deposit $100 in a savings account that earns 6% annual interest compounded monthly. Write a function that represents the balance after 1 years.
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  • Navdeep goyal 1 Best Answer
    CI= principal X(1+rate/100)^time =100X(1+6/100)^t =100X(106/100)^t = 100X(1.06)^t
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