Math Problem Statement
c) How much of that money is interest? (Round to the nearest cent, as needed.)
Solution
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Math Problem Analysis
Mathematical Concepts
Finance
Interest Calculation
Simple Interest
Compound Interest
Formulas
Simple Interest: I = P * r * t
Compound Interest: A = P(1 + r/n)^(nt)
Theorems
Simple Interest Theorem
Compound Interest Theorem
Suitable Grade Level
Grades 10-12
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