Math Problem Statement
Use the compound interest formula to compute the total amount accumulated and the interest earned. $6000 for 3 years at 3.5% compounded monthly Question content area bottom Part 1 The total amount accumulated after 3 years is $ enter your response here. (Round to the nearest cent as needed.)
Solution
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Math Problem Analysis
Mathematical Concepts
Compound Interest
Exponential Growth
Formulas
A = P(1 + r/n)^(nt)
Theorems
Compound Interest Theorem
Suitable Grade Level
Grades 10-12
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