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Home > CC3 > Chapter 8 > Lesson 8.1.3 > Problem 8-35

8-35.

Daniel has in the bank. He is earning compound interest each month. How much money will he have in the bank in one year? Is this example of linear or non-linear growth? Homework Help ✎

where:
A = total amount including previous interest earned
P = principal
r = interest rate for each compounding period
n = number of time periods