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16-11-2016
Business

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If a person deposited $50 a month for 6 years earning 8%, this would involve what type of computation

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16-11-2016

50*12 =600 put 600$ a year
600(1.08)^6 the power represents 6 years and 1.08 represents the percentage. (its gain so remember to add the 1 with 0.08.)

You earn $952.12 .

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