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6.What variable is treated the same in the annuity and compound interest formulas? Read the statements below and select the one that is true. FV/PV:
6.What variable is treated the same in the annuity and compound interest formulas? Read the statements below and select the one that is true.
FV/PV: We are still going to be dealing with a present value and future value in every problem.
n: both n values represent the number compound of compound periods.
i: we still need to know how much interest is gained each period.
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