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10 questions from this quiz
Interest on interest and principal
FV=PV(1+r)nFV = PV(1 + r)^nFV=PV(1+r)n
Divide by 100 to get 0.065
6850.43 USD
1850.43 USD
Divide rate by 12, multiply years by 12
PV=FV(1+r)nPV = \frac{FV}{(1 + r)^n}PV=(1+r)nFV
How much to invest now for future goal?
Exponential curve that steepens
Interest accelerates over time
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