susie9278 susie9278

24-01-2024
Mathematics

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A total of $120 is invested monthly with an annual compound interest rate of 6%, compounded monthly. Which of the following calculations explains how you can find the principal amount at the beginning of the second month?
o 120(1+0.06)+120
o 120· 2
o 120(1+0.005)²
o 120(1+0.005)/ 120

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