Math Problem Statement
Calculate the compound amount. Use the compound amount formula and a calculator. (Round your answer to two decimal places.)
P = $3600, r = 4% compounded monthly, t = 10 years
Solution
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Math Problem Analysis
Mathematical Concepts
Exponential Growth
Compound Interest
Formulas
A = P (1 + r/n)^(nt)
Theorems
Compound Interest Formula
Suitable Grade Level
Grades 10-12
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