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Give the formula that should be used to answer the following question. Joe invested $8,000 on Jan 1, 2010 in an account earning 3%/year compounded
Give the formula that should be used to answer the following question.
Joe invested $8,000 on Jan 1, 2010 in an account earning 3%/year compounded monthly. How much was his account worth on Dec. 31, 2014?
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